US equity indexes are mixed. Meanwhile, WTIC is currently +2.2% in the upper $78s. The energy sector ETF of XLE is currently net higher for the week by +1.8% at $89.99.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $79.16, the highest since August 13th. Today’s gains are more impressive relative to the red equity market, and the stronger dollar. A daily close >$78.00 would be decisive, and offer the $88s.
XLE: energy stocks powering upward with oil. Weekly momentum due to turn positive by Jan’27th.
notable stock: OXY
Leading the sector upward. I hold… for the 54/55s.
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notable nuclear stock: SMR
S/t washout. I hold from the mid $18s, seeking $22/23s
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Equities: sp’60min
S/t structure is a castle floor, with momentum prone to turning positive early Tuesday, so long as the PPI data comes in okay. The bigger daily charts are all suggestive we have/near a key multi-week low.