The Magic Potion

Good morning. After another positive day where the bulls recaptured S&P 1300, this morning we'll see if lower oil prices as the tension in Russia declines can once again provide the magic potion for higher equity prices. More bad news from the financial sector and a report that U.S. consumers are shopping more but remain cautious are in focus this morning along with a plunge in the U.S. trade deficit.

Premarket gainers: VSE, AIRT, SPPI, LDK, APWR, SOLR, SQNM, FUQI, AMCN, CSIQ, AOB, AAI, FOSL, TSYS, OVEN, CSUN, LCC, EZPW, SOL, & FLR.

Premarket losers: ZOLT, SCA, SONS, TRAK, COMV, MRGE, CRXL, MIDD, ABK, SNP, CMED, MDVN, MDR, ANN, LPS, ZNH, CROX, CHL, MBLX, PIR, & INFY.

Other than some Fedspeak today, oil prices and sector rotations away from financials and into other areas like technology will be closely monitored. For what it is worth, there's a lot of chatter that oil is approaching levels that we should see a bounce sooner rather than later while the S&P is setting up for a swing back to the upper end of its trend channel back to the 1350 level:

Have a terrific Tuesday!