US equities are moderately lower. Meanwhile, WTIC is currently -0.75% in the mid $82s. The energy sector ETF of XLE is currently net higher for the week by +0.8% at $95.70.
USO daily
XLE weekly
Summary
WTIC/USO: oil is churning the 83/82s. Daily momentum continues to tick back upward, and might turn positive next Monday.
XLE: energy stocks are moderately lower with the main market. Multi-week structure is a bull flag.
notable stock: SLB
Fairing rather worse than the sector. Broadly though, this remains my favourite energy stock.
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notable stock: DVN
S/t structure is a bear flag.
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Equities: sp’60min
S/t momentum continues to weaken, and should have turned negative before today’s close.
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Re: UBER/LYFT… a subscriber kindly noted that the drop is arguably due to renewed chatter about the Tesla robotaxi. Whilst that might be another year or two away, but… it would be distinctly bearish for UBER and LYFT.
I’d almost look for Tesla to partner with one… perhaps even both. Maybe.