US equities are still battling to bounce. Meanwhile, WTIC is currently +0.8% in the $90s. The energy sector ETF of XLE is currently net lower for the week by -1.6% at $89.91.
USO daily
XLE weekly
Summary
WTIC/USO: oil recovered from the $88s to the $90s, which is especially impressive relative to the weak main market, and the stronger dollar. Another black candle… leans s/t bearish.
XLE: energy stocks are being restrained by the main market. S/t vulnerable.
notable stock: OXY
Reflective of the sector. Momentum is increasingly negative.
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Equities: sp’60min
*Yours truly should venture out… if it stops raining.
I’ve still to buy block’1… looking to jump aboard, probably before the close, from around sp’4380s (subsequent basic downside target would be the August low of 4335).