The S&P 500 is up 1.2%.
Not coincidentally, oil futures just took a pretty big dive.
Oil is everything right now, and might remain so until the various ructions fade.
Via The Schork Report, here’s a quick overnight chart of oil vs. the dollar. The correlation isn’t hard to spot.
Photo: Schork Report
Overnight, PragCap posted a similar chart, but of oil vs. equities:
So for now, we’ll keep reporting on anytime Qaddafi takes a piss.
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