Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Oil Move Overshadowed By Job Report Expectation

|Includes: The United States Oil ETF, LP (USO)

 This afternoon the United States Oil Fund ETF(NYSE:OIL) is rallying off the the lows. The USO is trading lower by just 0.20 cents on the session. Over the past week every time oil has rallied higher intra-day the stock market has sold off sharply and that is not the case today. Investors are obviously looking at tomorrow's government job report as the catalyst for today's market rally. Tomorrow the economists surveyed are expecting the Labor Department to report a gain of 200,000 jobs. Yesterday's ADP report signaled a gain of 217,000 jobs. What is important for traders is the reaction in the market regardless of whatever the job number is.

Nicholas Santiago