US equities remain in minor chop mode. Meanwhile, WTIC is currently +1.0% in the $77s. The energy sector ETF of XLE is currently net lower for the week by -2.8% at $84.74.
USO daily
XLE weekly
Summary
WTIC/USO: oil swung from the $76s to $78s. Momentum is still increasingly negative, as another swing lower to secondary support 73/72s appears probable next week. Set for a net weekly decline of around -5.2%.
XLE: energy stocks are moderately choppy, mostly leaning on the weaker side. S/t bearish.
notable stock: OXY
The sixth day lower of seven.
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notable stock: VLO
Due a second close under the 200dma, and the cautious will be out.
FPE 7s. Y 3.3%. I’d favour KMI (6.4%) or DVN (9.4%) for the yield.
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Equities: sp’60min
Mostly just sideways chop, as we’re slowly burning off s/t oversold conditions. I’d accept a pin around 4100 is looking a stretch…. but maybe 4010?