Market Recap: 22 Jan 2014 – Is this the quiet before the storm?

By Markus Heitkoetter

Stocks were mixed once again with the S&P up +1.0 point and the DOW down -41 points. Day traders experienced a slow 6.75 point range in the E-Mini S&P, which is less than half of the current average daily range of 15.76 points.

While the bulls and bears battle things out in equities, Crude Oil (CL) is on the move once again. Today the commodity was up +1.85% on a strong rally, settling at $96.73 a barrel.

Due to Monday’s holiday, Crude Oil Inventories, an important report for CL traders typically released on Wednesdays, will come out tomorrow at 11:00am. Could we see $100 before the end of the month?

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