US equities are choppy, if sig’ higher. Meanwhile, WTIC is currently +1.4% in the $82s. The energy sector ETF of XLE is currently net higher for the week by +2.8% at $87.01.
USO 60min
XLE weekly
Summary
WTIC/USO: oil swung from $80.22 to the $82s, helped by the positive main market and the broadly weaker dollar. The threat shall remain… an overnight hyper spike on an attack against Iran.
XLE: energy stocks are very significantly higher, helped by the main market, and the upward swing in oil.
notable stock: OXY
Reflective of the sector. Teal gap due next week.
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Equities: sp’60min
S/t cyclically crazy high. Basic cooling to the opening gap of 4268.
I’ve added a fib’ retrace, basic fib’ of 38% offers 4227. Its nothing that merits bearish hysteria… but there is a trade within that.