US equities remain choppy, if still net higher. Meanwhile, WTIC is currently +0.3% in the $75s. The energy sector ETF of XLE is currently net higher for the week by +3.1% at $83.31.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $76.90, helped by the positive main market, but perhaps more so… further dollar weakness. Any price action >$78 would open the door to psy’ $100. For the latter, it’d help if the dollar remains under DXY 100.
XLE: energy stocks are moderately lower, for what is just a cooling wave after a rather strong four day run.
notable stock: OXY
Prone to settling with a black candle, or outright red.
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notable stock: CVX
Raymond James, outperform, 208>200… which makes little sense.
The current candle is bearish engulfing, and bodes for a lower low on Friday.
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Equities: sp’60min
A new intraday high of 4502, but price action remains very subdued. S/t momentum continues to weaken, prone to turning negative on Friday.