US equities remain in micro chop mode. Meanwhile, WTIC is currently +0.1% in the low $74s. The energy sector ETF of XLE is currently net lower for the week by -2.6% at $91.54.
USO daily
XLE weekly
Summary
WTIC/USO: oil cooled to $74.01. Today’s perform’ is worse relative to the broadly weaker dollar. Despite Trump calling for lower prices, I see little to expect that.
XLE: energy stocks are moderately lower, mostly due to oil $74s. Weekly momentum is still fractionally positive. S/t bullish.
notable stock: OXY
Occidental reflective of the sector.
Testing the 50dma. Multi-week structure is a bull flag.
*I added a second block this morning from around $49.95.
I’d like an exit in the 52/53s next week.
–
notable nuclear stock: SMR
S/t over-stretched, and due some cooling.
I’d really only be interested in buying back <$22.
–
Equities: sp’60min
The micro chop continues.