US equities remain a little choppy. Meanwhile, WTIC is currently +1.8% in the $79s. The energy sector ETF of XLE is currently net higher for the week by +1.6% at $86.32.
USO daily
XLE weekly
Summary
WTIC/USO: oil has printed $79.05, partly helped by the weaker dollar. The central concern should be if the mainstream start getting renewed concerns about a slowing economy. Support 75s, secondary 73/72s.
XLE: energy stocks fairing well to the subdued main market. The sector is to seen as m/t bullish unless April settles <$82.00.
notable stock: FSLR
A few recent downgrades, and not helped by chatter that the subsidy rules might be changed. We’ve a downside gap 180/169
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notable stock: VLO
Bouncing, but that is after two daily closes below the 200dma.
Its arguable even the bolder bulls will be out.
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Equities: sp’60min
Chop chop… and the only issue for today is whether we close under the daily 10MA… and settle with negative daily momentum.