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The E-Mini S&P 500 & Crude Oil on a teeter-totter!
The E-Mini S&P 500 appears on one side of the teeter-totter and the Crude Oil on the other while investors scurry back and forth trying to keep their balance in between. Kuwait’s Sheikh Ahmad al-Abdullah al Sabah had mentioned that there was no decision for Opec to boost their production quotas to suffice for the loss of the Libyan Oil exports. Previously, remarks were made referencing an increase in production. Saudi Arabia has mentioned an increase in production of their Crude Oil and President Obama has referenced a potential dip into the reserves. If Opec does increase production, it will be the first time in 2 years. The Crude Oil has pulled back somewhat today trading as low as $104.69 after reaching a high of $106.95. The relationships between the markets often will guide one through an uncertain time in the marketplace. One must know the impact that one market may have on another. That is why we take the time to observe some of the non-financial markets.
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