US equities are moderately lower. Meanwhile, WTIC is currently +2.6% in the $94s. The energy sector ETF of XLE is currently net higher for the week by +2.9% at $91.90.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $94.04, which is especially impressive relative to the weak equity market, and the stronger dollar. The mainstream are finally becoming resigned to the notion of psy’ $100.
XLE: Energy stocks powering upward with oil.
notable stock: OXY
Reflective of the sector.
Yesterday’s hollow red reversal candle played out.
–
Equities: sp’60min
A new cycle low of 4253.
–
SPECIAL NOTE…
We’ve a marginal break of m/t rising trend.
This is a massively important issue.
Yes, we could bounce from current levels, but if I see a daily close (Thurs’ or Friday) under the 200dma, it’d setup a mini crash on Monday.