US equities remain choppy, if leaning on the weaker side. Meanwhile, WTIC is currently +4.1% in the $114s. The energy sector ETF of XLE is currently net higher for the week by +5.1% at $76.95.
USO 60min
XLE weekly
Summary
WTIC/USO: oil printed $115.40, as the mainstream are starting to get concerned about the long summer ahead. Many appear resigned to oil testing the 2008 $147s. For now, the ‘kook’ chatter is $200/250.
XLE: energy stocks are powering upward… clearly helped by oil. Its notable that whilst WTIC is still below its 2008 historic high, XLE is trading about the 2014 historic $74s.
notable stock: SLB
Schlumberger reflective of the sector. Big target are the $54s.
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notable stock: DVN
Devon remains m/t super strong. Next big target are the 2014 $64s.
FPE 9s is crazy cheap. Y 0.7%.
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Equities: sp’60min
I’d note how the morning bounce has stalled at the 10MA. In theory, we should at least test the Monday low of 4424, whether tomorrow or Friday.