US equities remain choppy, still leaning a little weak. Meanwhile, WTIC is currently -0.2% in the $72s. The energy sector ETF of XLE is currently net higher for the week by +0.1% at $80.28.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $71.34, not helped by a weak main market, and a moderately stronger dollar. S/t vulnerable.
XLE: energy stocks fairing better than the main market. I would note we’re been trading under the monthly 10MA ($83s), if this doesn’t change, the sector has to be seen as m/t broken. Certain stocks – DVN, OXY, have been warning about this for some months.
notable stock: DVN
Earnings were fine, but the stock remains m/t broken.
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notable stock: VLO
Yesterday’s black candle initially played out. S/t bullish into Wed’.
Valero appoints Riggs as new CEO. I’m not aware if the deputy will be Murtaugh.
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Equities: sp’60min
S/t momentum has turned negative, but I see no reason not to expect another wave upward to the 4160s tomorrow.