US equities continue to power upward. Meanwhile, WTIC is currently -5.2% at $76.17. The energy sector ETF of XLE is currently net lower for the week by -1.5% at $58.64.
WTIC, daily
XLE weekly
Summary
WTIC: oil printed $75.16, partly cyclical… but partly on ‘deal chatter’. Next support 72/71s.
XLE: energy stocks are moderately lower, if propped up by the positive main market.
notable stock: XOM
Struggling with the sector.
Reversal candle… net bullish for Wed’
–
notable stock: MPC
Earnings were very good…
EPS $17.73 vs 13.73est. Rev’ y/y +53.5% to $52.3bn vs 42.1est.
—
Equities: sp’60min
New hist’ high.
Yes, we are extremely overbought.
… problem for the bears… daily momentum is increasingly positive.
time for a much needed lunch