Energy Helps Bulls Battle Back

Energy stocks have whip-sawed the bears at around mid-day after a unexpected drop in oil inventories sent crude oil up 3.8%. The S&P and NASDAQ are up over half a per cent.

Still, treasuries remain in the green and the dollar is strong against most currencies outside the euro. Gold is slightly up in line with commodities strength. We note that questions remain whether the inventory data was a bit of an aberration. While the market is now in the green, it is precariously so.

From Finviz:

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