US equities remain in minor chop mode. Meanwhile, WTIC is currently +1.7% in the $72s. The energy sector ETF of XLE is currently net higher for the week by +2.5% at $81.93.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $73.19, helped by earlier weakening in the dollar.
XLE: energy stocks are very significantly higher, helped with oil $73s. I'd keep in mind the monthly 10MA (mid $83s), until its cleared above, I'll see the sector as m/t broken.
notable stock: OXY
FPE 10s. Y 1.2%. No doubt, Berkshire will be looking to add on ALL cooling waves this summer.
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notable stock: DVN
FPE 7s... Y 9.2%... rather better than a US 10yr bond.
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Equities: sp'60min
Weak leaning chop. Yes, tomorrow is a Thursday, which will inherently favour the bears, but I'm largely dismissive of it, as the 4300s appear a near term eventuality. At best... 4241/21 Thurs/Friday, before leaning upward into next Wednesday's Fed.
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