US equities remain unstable, currently leaning a little weak. Meanwhile, WTIC is currently +1.7% in the $110s. The energy sector ETF of XLE is currently net higher for the week by +9.4% at $82.20.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $111.18… which is impressive considering the broken main market, and the broadly strong dollar. A weekly close >$110 would be useful, and bode bullish for next week.
XLE: energy stocks had a very good week, breaking a new multi-year high, as last week’s hollow red reversal candle played out. Back above the weekly 10MA, is a further positive.
notable stock: OXY
Earnings due next Tuesday in AH should be very good with a positive outlook.
notable stock: RIG
Transocean is under pressure than most of the sector. Recent earnings were lousy. I want OUT >$4.60.
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Equities: sp’60min
The s/t cyclical setup favours the bulls, but ongoing price action threatens a strong case of ‘rats selling into the weekend’. A true wild card of an afternoon.