US equities remain subdued. Meanwhile, WTIC is currently -0.9% in the upper $80s. The energy sector ETF of XLE is currently net higher for the week by +2.1% at $90.90.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $81.90… if cooling back a little. The door remains open to 83/85, and seems probable by the end of next week. The threat to the oil shorts shall remain the middle east… especially a ‘weekend surprise’
XLE: energy stocks cooling back a little, its just a retrace.
notable stock: CVX
A little early cooling. It won’t take much to see it settle net higher.
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notable stock: SLB
Schlumberger typically catches the attention of the bolder big money bulls. Soft target psy’50/51… where the 200dma is.
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Equities: sp’60min
Chop chop… if cooling back.
Daily momentum leans net bearish for Wed’/Thurs.