US equities are very significantly lower. Meanwhile, WTIC is currently +1.0% in the $85s. The energy sector ETF of XLE is currently net higher for the week by +2.5% at $63.99.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $85.36. There is an element of geo-political tension being priced in. Wed/Thursday should offer a swing lower. I’m still looking for a washout to the $75s or so.
XLE: energy stocks seeing considerable chop. S/t vulnerable with the main market.
notable stock: KMI
Momentum has turned negative. The mid $16s look probable.
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Equities: sp’60min
Bears can argue price action is just bearish consolidation… as 4222 looks highly vulnerable post Fed. From there… psy’4k and the 38% fib’ of 3815.