US equities remain significantly higher. Meanwhile, WTIC is currently +0.3% in the $89s. The energy sector ETF of XLE is currently net lower for the week by -0.1% at $68.80.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $90.58, helped by a positive main market, and a favourable EIA report. Still… the cyclical setup favours some cooling. Natural target is the 50dma… next week… psy’ $80.
XLE: energy stocks seeing considerable chop… s/t vulnerable with oil and the main market.
notable stock: KMI
Distinctly s/t stuck. Today’s candle is spiky, and it won’t take much to turn red.
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Equities: sp’60min
S/t momentum is on the high side. Maybe some late day cooling, with some rats selling on strength ahead of CPI?