GET TO WORK!

Participants' schizophrenia continues with crude oil slipping one day and recovering the next. A generally bearish EIA report could not prevent the market from rallying after follow on selling failed to appear which lent a positive tone to the rest of the session.

Traders will be looking for the next directional cue in tomorrow's jobs report, the singularly most important bit of data for the month. After all, putting people back to work is what is going to fuel demand growth, although for the bust that it was supposed to be, yesterdays implied demand for gasoline showed that driving season was not all that bad.

Crude prices came under pressure again. Although jobless claims dropped a little, they are still above 470,000, which is a sign that the economy is still in a lot of trouble.

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