US equities remain choppy, if currently net higher. Meanwhile, WTIC is currently -2.9% in the $83s. The energy sector ETF of XLE is currently net lower for the week by -0.2% at $84.44.
USO 60min
XLE weekly
Summary
WTIC/USO: oil printed $82.33, a bizarre performance, considering the ongoing situation in the middle east.
Does anyone seriously think all those ships have been amassed for no reason, and that they won’t be used against Lebanon, Syria, and Iran? The Biden regime is unquestionably itching for a war to distract the dumb sheep from the collapsing financials.
XLE: energy stocks are lower with oil.
notable stock: OXY
Lower with the sector. Orange gap almost filled. Testing the 200dma… but broadly.. its been a chop fest across this year.
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Equities: sp’60min
Remaining choppy.
Cyclically we’re on the high side.
Bulls could argue structure is a baby bull flag.
As things are, a black daily candle appears probable, which would lean bearish into Halloween/end month. Right now, 4080/4070… at best, with VIX 24/25s.
Time for lunch at 5pm GMT, 1pm ET. These time changes really unsettle me, not least when my schedule will have to change again next Monday.