US equities have seen a very significant cooling wave. Meanwhile, WTIC is currently -1.1% in the mid $60s. The energy sector ETF of XLE is currently net lower for the week by -0.8% at $78.15.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $61.75, if cooling back to the $60s. S/t broken until >$65s. The wild card remains the middle east/Iran
XLE: energy stocks are moderately higher… if fading back with the main market.
notable stock: OXY
Three downgrades today… aren’t helping.
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notable nuclear stock: SMR
S/t vulnerable with the main market. Net bullish into May
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Equities: sp’60min
We’ve already seen the R2K turn red. It won’t take much for the SPX to follow. I see this as just a cooling wave. 4835 should hold.