US equities remain choppy, if moderately higher. Meanwhile, WTIC is currently +0.2% in the low $63s. The energy sector ETF of XLE is currently net higher for the week by +2.2% at $54.45.
USO daily
XLE weekly
Summary
WTIC/USO: oil is churning the 63/62s. A tag of orange gap appears probable next week. I’m considering a long trade (via USO) into March, on threat of USA-Iran. Monthly momentum might turn positive before end month, and threatens a spike to the $77s.
XLE: energy stocks are net higher for an EIGHTH consecutive week. Impressive… relative to oil and the main market.
notable stock: XOM
A second day of cooling, but that is from a new hist’ high.
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notable nuclear stock: SMR
New cycle low of $13.66. I still like this one, with basic target of the 200dma around $30
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Equities: sp’60min
Hourly momentum continues to swing back toward the bulls.
Considering the long weekend, I wonder if we’ll see some late day cooling.
Yours truly remains content on the sidelines.
I’ll look to buy back silver next Tuesday.