US equities remain in minor chop mode. Meanwhile, WTIC is currently -2.3% in the $82s. The energy sector ETF of XLE is currently net lower for the week by -0.3% at $57.78.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $82.36. Old resistance of the 77/76s… is new support.
XLE: energy stocks are having a rough day, and arguably a precursor to the main market. We’ve a reversal candle from around key price threshold.
*I remain looking to buy back OXY, SLB, MRO, RIG, and KMI, but see no hurry.
notable stock: OXY
Yesterday’s black candle played out, as momentum has turned negative.
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Equities: sp’60min
Price action remains pretty tedious, but there remain some very dynamic movers, largely due to earnings or commodity related.