US equities remain very significantly higher. Meanwhile, WTIC is currently +1.4% in the $37s. The energy sector ETF of XLE is currently net higher for the week by +2.6% in the $29.47s.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $38.32, helped by the main market, but especially by the broadly weaker dollar. For now… stuck between upside resistance of 42/43, and downside support of 32/30 zone.
XLE: energy stocks having a positive week so far… if still under the weekly 10MA.
notable stock: XOM
Exxon is really struggling to the main market and oil.
RBC minor downgrade, 50>48
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Equities: sp’60min
S/t momentum remains on the very high side. From a pure cyclical perspective, the market is problematic into the result.