US equities remain in minor chop mode. Meanwhile, WTIC is currently -4.1% in the $69s. The energy sector ETF of XLE is currently net lower for the week by -2.7% at $77.97.
USO daily
XLE weekly
Summary
WTIC/USO: oil has cooled from the $72s to $69s, a lousy perform’ relative to the churning main market. Yes, today’s moderately stronger dollar isn’t helping. Daily momentum prone to turning negative within 1-2 days.
XLE: energy stocks are sig’ lower, largely due to oil. The sector is to be seen as m/t broken unless >83 (to be decisive).
notable stock: OXY
Lower with the sector. I’d imagine Berkshire are out there buying.
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notable stock: KMI
I’m inclined to pick up KMI and/or DVN sometime soon.
For now… zero sign of a s/t floor.
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Equities: sp’60min
Chop chop. S/t momentum should turn positive late today/early Friday.