US equities remain in minor chop mode. Meanwhile, WTIC is currently +0.4% in the $76s. The energy sector ETF of XLE is currently net higher for the week by +1.2% at $55.58.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $77.44, if cooling back a little. Its been an impressive run from the recent $66s. S/t vulnerable… if only to the 73s or so. There is OPEC chatter of increasing supply, but just by a trivial 400K.
XLE: energy stocks are mostly leaning on the weaker side. S/t vulnerable with the main market and oil.
*I hold OXY, SLB, RIG, KMI, XOM
**this hour… I lightened up in OXY, SLB, and fully exited MRO. Market/sector is tired, and I’d like some extra cash to buy back lower.
notable stock: OXY
Reflective of a tired sector. I broadly hold, and see any cooling waves as buying opps.
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Equities: sp’60min
S/t momentum remains on the low side, but this market IS tired. A retrace to 4720/4700 zone is a threat, although looks out of range until next Mon/Tuesday.