PRE MARKETS

Markets are set to open mixed with oil lower by $.50 while natty gas is higher by almost 6% - at $8.27.

The biggest news of the morning is the rise of the dollar which now up almost 1% and and 1.446 points against the EURO.

Checking the trading signals- the VIX etc numbers are a bit above their SMA 10 while the RSI (2) readings are at/near 25 on most major indexes.

Trading volume has been very very light of late so I don't read too much into these numbers now as the markets seem to oscillate between the 1260 and 1300 levels on the SPX- a break of those ranges on higher volume-then we have something but I don't expect that until ALD (after Labor day).

And if your watching the convention/election stuff INTRADE now showing Obama with a 61 buy level and McCain at about 36 - while Romney is sitting at about 60% to be the VP selection of McCain- I doubt those numbers - why - well how many homes does Romney have and how will that one play out/

Pollster.com and fivethirtyeight.com also showing Obama as the eventual winner - but its early - real early.