Weekly Swing Trader’s Brief: Oil Headlines, Strong Market Breadth, and 7 Energy Stocks to Watch This Week
Introduction
The market heads into the shortened trading week with one story dominating everything: oil.
After the holiday weekend, futures reopened and immediately started reacting to headlines around the Middle East and renewed hopes around a possible U.S.–Iran deal. Oil prices swung sharply, equity futures jumped, and once again traders were reminded how quickly macro headlines can reshape the landscape.
For swing traders, this creates opportunity—but only if we stay flexible and let price action confirm the story.
This week the focus is clear:
Can oil stay under $100?
If it does, the market likely gets room to continue higher. If oil snaps back and headlines reverse, energy could quickly become the leadership group again.
Let’s break down the market, then go through the seven stocks on watch.
Oil Is the Story This Week
Every major financial headline this weekend centered on crude.
Markets initially rallied hard on hopes of easing geopolitical tensions. Oil dropped sharply. Equity futures surged. Then some of that optimism cooled as fresh airstrike headlines hit.
Even with the back-and-forth, one key level matters most:
$100 crude.
That remains the psychological line in the sand.
WTI briefly traded in the 80s over the weekend and is now back in the low 90s. Brent is elevated but still below triple digits.
That matters.
If oil can continue drifting lower through the week, that would be constructive for equities.
If it reclaims momentum and starts pressing higher again, energy names could immediately retake leadership.
For swing traders, there’s no need to predict. We just need to identify the inflection point and be ready.
SPY, QQQ and Market Breadth Continue to Improve
From a technical perspective, the overall market still looks strong.
SPY had a healthy three-day pullback and now looks positioned to challenge highs again.
QQQ is showing nearly the same structure.
IWM remains constructive as well.
What I like most here is what’s happening underneath the surface.
The equal-weight S&P has improved dramatically.
Earlier in the move we had the indexes pushing higher while breadth lagged. That divergence has improved.
More stocks are participating.
More stocks are above key moving averages.
That broad participation is exactly what you want to see when markets are pressing highs.
Can a breakout fail?
Of course.
But the technical backdrop remains solid.
Oracle Still Looks Excellent
Before getting to the seven new watchlist names, a quick update on Oracle.
A lot of us are already in this one.
The trade has worked beautifully.
Entry was around 162 and the stock is now trading around 192.
Originally the plan was to take profits near the 200-day moving average around 205.
That still makes sense.
But this pattern continues to tighten and strengthen.
It’s a classic bottoming breakout.
There’s also a cup-and-handle feel developing under resistance.
If oil eases and the market remains firm, I may continue holding for a break through resistance instead of trimming immediately.
It remains one of my favorite setups in the market.
Quantum Names Still Have Momentum
The other area still worth watching is quantum computing.
Government investment continues to fuel momentum.
The pure-play names remain powerful:
- IONQ
- Rigetti
- QBTS
These are extended if you missed them.
But the momentum is real.
The best entries now likely come on pullbacks or tight consolidations.
When strong catalysts appear after deep corrections, these stocks often transition into sustained trends.
That theme remains intact.
7 Energy Stocks to Watch This Week
This week’s seven-stock watchlist is heavily focused on energy.
That doesn’t mean buy at the open.
It means watch closely and let oil guide the move.
If crude stabilizes and bounces, these names are positioned extremely well.
If oil keeps falling hard, patience matters.
Here are the names I’m watching.
1. Phillips 66 – Strong Trend Above Key Support
PSX continues to hold above the 50-day moving average.
The trend remains clean.
It’s pulled back just enough to create an attractive inflection point without damaging structure.
Not an automatic entry.
But if oil firms up and the stock starts pushing back toward highs, this one could trend.
2. Nabors Industries – My Favorite Setup Right Now
This may be the strongest chart in the group.
Revenue growth has remained strong.
Price barely pulled back.
It held the 9 EMA.
That relative strength matters.
When sector momentum returns, the strongest chart often leads first.
This one checks a lot of boxes.
3. EQT Corporation – Deep Pullback Into Opportunity
EQT pulled back deeper than some of the others.
That can create a great remount setup.
The area around the 50-day moving average becomes critical.
If buyers step in and reclaim trend, this can move quickly.
4. Diamondback Energy – Clean Trend, Watching the 9 EMA
FANG continues to look strong.
Revenue growth has been excellent.
Trend remains intact.
The key here is whether it can remount the 9 EMA and begin another leg higher.
Near highs with momentum behind it can be powerful.
5. Kinder Morgan – Great Midstream Pattern
KMI had the bigger dip.
Then reclaimed the 50-day.
Now it’s pulling back in a controlled way.
That creates a strong technical setup.
Midstream can often hold up better than exploration names during volatility.
Worth watching closely.
6. ConocoPhillips – Better Relative Setup Among the Large Caps
Among the big integrated oil names, COP looks more attractive.
The chart has weakened some.
But the underlying numbers remain better than peers.
If oil rebounds, this one could outperform.
7. Energy Select Sector SPDR Fund / Direxion Daily Energy Bull 2X Shares – The ETF Route
If you don’t want individual stock risk, this is the cleanest way to play it.
XLE gives broad sector exposure.
ERX adds leverage.
Sometimes the ETF is the best trade when headlines are moving fast and sector direction matters more than company-specific news.
Bonus: Trading Oil Directly
If oil itself starts reversing higher, traders can also watch:
- United States Oil Fund
- ProShares Ultra Bloomberg Crude Oil
- MicroSectors Oil & Gas Exp. & Prod. 3X Leveraged ETN
More leverage means bigger upside.
And bigger downside.
Risk management matters.
Final Thoughts for the Week
This is one of those weeks where macro headlines and technicals are colliding.
That can create noise.
But it also creates strong opportunity.
The checklist is simple:
- Watch oil
- Watch whether crude stays below $100
- Watch breadth
- Watch how SPY reacts near highs
- Let price confirm
If oil keeps cooling, the market may continue powering higher.
If oil reverses, energy names are already lined up with strong technical patterns and could lead fast.
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