1pm update – oil and energy

US equities remain choppy, if mostly leaning lower (Trans -1.3%, R2K -1.0%). Meanwhile, WTIC is currently -0.7% in the mid $61s. The energy sector ETF of XLE is currently net lower for the week by -2.8% at $83.08.

USO daily

XLE weekly

Summary

WTIC/USO: oil spiked to $64.19 overnight, if cooling back to $61.28. S/t vulnearable with the main market. Upside resistance $65s will not be easy to clear.

XLE: energy stocks are broadly lower. Weekly momentum due to turn positive in early June.

notable stock: OXY

Fairing a little better than the sector. I hold.

notable nuclear stock: SMR

Powerful gains. The current candle is bullish engulfing.

Equities: sp’60min

Choppy, if set for marginal declines.