The talk on the news is that futures are down and Oil spikes over 100. Here are the relative changes in futures since yesterday’s close:

See the previous post about SeasonalTrends for the Oil contract, CL. The rapid increase is counter to seasonal trends, and is hitting a strong resistance level at the end of a rapid price increase beginning October 4th.

Oil has generally been moving up with the equity markets as the dollar decreased. Now it is making an aggressive move up, counter to both a gap down in equities, a move up in the dollar, and against seasonal trends.

… Wow, and here is how the extreme change accelerated through the Equity Markets open

Look to the inventory report today. Should be interesting.