US equities remain choppy, but very significantly lower. Meanwhile, WTIC is currently -3.6% in the $39s. The energy sector ETF of XLE is currently net lower for the week by -4.0% in the $31.74s.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $38.87, pressured by the main market, but also the significantly higher dollar. Major support 32/30… would arguably sync with sp’3100.
XLE: energy stocks saw sig’ net weekly gains last week… but those have already been fully negated, breaking a new multi-month low. S/t bearish… with the sp’3100s.
notable stock: XOM
The ex-Dow component of Exxon continues to broadly struggle, back to early April levels.
—
Equities: sp’60min
S/t cyclically very oversold. Regardless of any bounce… it’d seem mr market wants broader downside to around 3100.
–
Time to catch the last sunset of summer 2020…
*I should be back by 2pm, but if not… refresh 2.10/2.15pm!