US equities remain leaning weak. Meanwhile, WTIC is currently +0.8% in the $77s. The energy sector ETF of XLE is currently net higher for the week by +0.8% at $86.23.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $77.97… somewhat restrained by the weak equity market. I still think last Friday’s close >$78 is significant, with the door arguably remaining open to 83/84s within a few weeks.
XLE: energy stocks are very significantly higher… impressive to the main market. Weekly momentum is notably positive, if only fractionally.
notable stock: SLB
Pushing into the $49s. I hold for the 52/53s.
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notable stock: OXY
A little laggy to the sector… for no good reason.
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notable stock: RIG
Citi, buy, 9>7, Susquehanna, neutral, 6.50>5.50.
Yours truly… ‘no way’, $5s
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Equities: sp’60min
Choppy, if still leaning weak. Fed minutes… 2pm will offer an excuse to break a new intraday low.