One of the most balanced days of the year

GA907
2023-06-16

One of the most balanced days of the year. We need more days like today.

$Real Estate Select Sector SPDR Fund(XLRE)$ $Materials Select Sector SPDR Fund(XLB)$ $Consumer Discretionary Select Sector SPDR Fund(XLY)$ $Communication Services Select Sector SPDR Fund(XLC)$ $Utilities Select Sector SPDR Fund(XLU)$ $Financial Select Sector SPDR Fund(XLF)$ $Industrial Select Sector SPDR Fund(XLI)$ $Health Care Select Sector SPDR Fund(XLV)$ $Consumer Staples Select Sector SPDR Fund(XLP)$ $Technology Select Sector SPDR Fund(XLK)$ $Energy Select Sector SPDR Fund(XLE)$

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once confidence is gone from XLE sector, it's hard to get it back. It will take more than a 3% move in WTI to close slightly above $70 to convince investors to come back.

Both diesel and gasoline cracks just had the highest settles since the end of Q1.

Bullish Natty Injection. With 84bcf injection, nat gas in storage is 15.5% above 5yr average and 26.5% above last year. We will need a lot more lower-than-expected injections to bring Natty in storage closer to 5yr average.

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