Stocks Mixed As Oil Continues Range Trading...

Oil seems to be the only thing that is moving stocks all over the world these days. As oil continues its threatening range trading above the $130 mark, investors are torn between speculating a breakdown in oil price due to deteriorating fundamentals or a breakout in accordance to its long term uptrend as the US stock market closed mixed near the unchanged mark. Today's winner continues to be the energy sector while the techs and transport led the way down. Oil edged higher today within its tight trading range even as the US dollar gains on speculation that the Feds are going to hike rates on Wednesday (see economic calendar). Something is definitely brewing out there right now as the bad guys slowly take their profit out of oil while leaving the bill to the common oil traders. On the charts, today is a sideways day that changed nothing. Short to mid term trend continues to be downwards.