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E-Mini S&P 500 needs some traction!
Another day for the E-Mini S&P 500 to retrace! Rumors spread about the Libyan President, Maummar Gaddafi, being shot. The Crude Oil has been trading inversely to the E-Mini S&P 500 as it hit levels around $103.00 on fears regarding the unrest in Libya as a threat to our oil supply. In reality, the daily supplies from Libya would be very small in comparison to our total usage. Saudi Arabia came in with a statement to suggest that they would ramp up their production to compensate.