US equities are choppy, if moderately higher. Meanwhile, WTIC is currently -4.5% in the $85s. The energy sector ETF of XLE is currently net lower for the week by -4.9% at $85.96.
USO daily
XLE weekly
Summary
WTIC/USO: oil has printed $85.02, a poorer performance relative to the equity market and weaker dollar. The OPEC+ agreement to maintain supply is today’s excuse.
XLE: energy stocks whacked lower by oil. Weekly momentum is threatening to turn negative within 1-2 weeks. Bodes badly for the main market.
notable stock: OXY
Reflective of a s/t broken sector.
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Equities: sp’60min
S/t momentum has turned positive. The low 4300s look realistic early Friday.
Time to venture outside… before I think of an excuse.