late morning update

Oil still trading above $50 as the European session comes to a close.Market most likely to trade sideways until we approach the close and then the game of will it or won’t it settle Above $50 begins.Higher Oil  higher  and stocks weighing on Bonds .Take a look at this graph  of intraday E-mini spoo s.


The vertical Line is 10:30   the unofficial Close of Europe.Look at the action in Spoos post 10:30 ,A  steady decline.This is a common  occurrence movement one way or another. This tells me that Europe was driving the action today,and once that action is gone Spoos start to drift or move to her own Beat.A great indication of What was important to markets in the A.M.  and   it sets up some nice volatility  around 10:30 everyday.


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