US equities are slowly cooling. Meanwhile, WTIC is currently -2.8% in the $75s. The energy sector ETF of XLE is currently net lower for the week by -4.3% at $82.92.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed a new cycle low of $75.05… not helped by the downside reversal in equities. Set for a second daily close (WTIC, not USO) under the 200dma. I would still be extremely mindful that there shall remain risk of a hyper spike on the middle east.
XLE: energy stocks are broadly lower, not helped by the main market, and oil $75s. S/t bearish… with next support 80/79s
notable stock: OXY
Earnings were broadly fine, and the stock is justly resilient to the sector.
–
Equities: sp’60min
A little cooling, but it doesn’t merit even minor hysteria.