US equities are battling to hold very significant gains. Meanwhile, WTIC is currently +0.7% in the mid $69s. The energy sector ETF of XLE is currently net lower for the week by -5.6% at $84.26.
USO daily
XLE weekly
Summary
WTIC/USO: oil has recovered from $68.42 to $69.66, helped by the upside reversal in the main market, and the weaker dollar. Broadly… its all chop. Things turn interesting >$73.00.
XLE: energy stocks have built sig’ gains, helped by the main market, and oil. Still though… a fourth consecutive net weekly decline, with no real sign of a s/t floor.
notable stock: OXY
Well, I’ve been wondering this week… and we had news that Berkshire/Buffett decided to buy another block in the 46/45s.
–
notable nuclear stock: OKLO
The third day higher of four. The l/t outlook is positive.
—
Equities: sp’60min
Hourly momentum has turned positive.
We’ve a provisional intraday spike high of 5982.
First support in a cooling wave… the hourly 10MA, which will be around 5920 as of the 3pm hour, which intersects with the daily 50MA.
S/t bullish whilst >5930.