US equities are choppy, if broadly higher. Meanwhile, WTIC is currently +2.3% in the $70s. The energy sector ETF of XLE is currently net lower for the week by -0.3% at $81.08.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $70.64, helped by the positive main market, but also the weaker dollar. Broader price action remains a chop-fest since last December.
XLE: energy stocks are very significantly higher, largely helped with oil $70s. I will see the sector as m/t broken until XLE > monthly 10MA $83s.
notable stock: OXY
Occidental is still lagging the sector.
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notable stock: DVN
The 9.2% yield remains attractive. If I thought the main market was flooring, I’d load the truck with Devon and sister Kinder Morgan.
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Equities: sp’60min
Choppy, if with a new cycle high of 4412. Again, Friday-opex appears due to settle around sp’4400.