AFTERNOON LULL

Markets have moved up and are now trading near the flat line on the SPX/DJIA and solidly green on the tech heavy NAZ/NDX.

The turnaround happened on the heels of lower crude prices this AM although crude is trying to bust back into the green.

Lots of resistance over head on the major indexes as the SPX finds its down trending 50 SMA at 1300 and prior tops at /near 1290. DJIA SMA 50 about 100 points higher at/near 11,720.

Also note the oversold RSI (2) levels with most major indexes at/near 85.

Bottom line- equities are held hostage by the moves in crude as they seem to move tick for tick in opposite directions.