US equities are choppy, increasingly leaning weak . Meanwhile, WTIC is currently +0.3% in the $75s. The energy sector ETF of XLE is currently net higher for the week by +1.7% at $55.82.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $76.92, if cooling back to the $75s. S/t vulnerable with the main market… if only for a few days.
XLE: energy stocks are choppy, and leaning weak with the main market. S/t vulnerable.
*I hold OXY, SLB, MRO, RIG, KMI, XOM. I could have lightened up in a few this early morning, but a main market washout isn’t a given, and I want somewhat higher levels in OXY and SLB before selling anything.
notable stock: XOM
Exxon is tired with the sector… s/t vulnerable. I hold.
—
Equities: sp’60min
S/t momentum is in the process of turning negative, and that should equate to net daily declines, with bearish follow through tomorrow. Typically… Thursday is ‘prime’ for the bears, so perhaps we should be expecting 4720/4700 then.