US equities remain choppy, if mostly leaning weak. Meanwhile, WTIC is currently -0.9% in the $76s. The energy sector ETF of XLE is currently net lower for the week by -3.2% at $84.42.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $76.11, not helped by the shaky main market. The current candle is a hollow red reversal, and leans s/t bullish.
XLE: energy stocks are very significantly lower, largely due to oil $76s. S/t prone to bouncing with the main market.
*I still see oil and the related energy stocks as the very last thing to be short.
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notable stock: OXY
Berkshire/Buffett are still out there… buying on every cooling wave, now owning around 22%.
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notable stock: RIG
The threat is of a s/t double top.
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Equities: sp’60min
The minor chop continues. The s/t cyclical setup still favours the bulls, but I’d accept, this morning’s price action wasn’t exactly inspiring.