Energy this AM: Careful when you are reading prices because most traders will now be trading the January contract and not the December. Reason is options expiration. Crude fell below $57 overnight. Techies trade charts down to the five minute type, that's why you'll see support levels much higher than on the daily chart. As I'm leaving for work at 6:55 crude is trading at 57.55. January is trading just above 58.

If you read IBD, you will read that they are looking at both the Dow and the S&P and both have been building a base for a year now. Everyone is getting ready for a blowout November December. Yesterday's action is big time bullish and we can be on the verge of a move to the upside that looks like it could be 20%, a 2.000 point move. Keep in mind that a plateau looks just like a base, meaning we could be looking at a huge fall also. Be sure your ducks are lined up..... Reasons? Interest rates, the lack of support fot the Euro, riots in sacroscant France, and the strong dollar helping to force the price of energy down. These things are part of a chain reaction that is long overdue.