US equities are very significantly higher. Meanwhile, WTIC is currently +0.8% in the $109s. The energy sector ETF of XLE is currently net higher for the week by +4.1% at $76.51.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $111.16, if cooling back to the $109s. Alarm bells if <$93, but that looks out of range... not least with relentlessly increasing geo-political tensions.
XLE: energy stocks are very significantly higher with the main market. Last week's candle remains a concern.... if still m/t bullish. Line in the sand? The $57s, but that would be a ludicrously loose stop level.
*I hold nothing within the sector, having bailed on RIG in early morning.
Zero interest in adding, not least as I might be dead anyway!
notable stock: OXY
Occidental powerfully higher. M/t bullish, although the more cautious will have a stop of some degree.
notable stock: RIG
Higher with the sector. Two concerns... the first is the main market. The second is that the sector has put in a m/t top. I'm skeptical of the latter.
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Equities: sp'60min
S/t momentum is on the very high side. Bulls can argue s/t price structure is a baby bull flag, and I'd be open to Wed' putting in a higher high... but from there, Thursday will favour the equity bears, with natural target of red gap.
