I'm curious what tools you guys use for intermarket trading in terms of day trading.... not swing trading. I watch ETFs like USO (crude oil fund) or TLT (20+ yr treasuries) to gauge market sentiment. If crude oil, treasuries or any other instrument falls/rallies it frequently has a effect on the stock market. The arbs help move the whole market. Anyway, this is a simple example. I'm curious how other traders view intermarket analysis. Is it suitable for day trading? I feel like many of the spikes in crude oil (on crude inventoires # release) may be better to fade... actually try to call top in USO rather than buy other stocks in S&P 500. I guess every scenario is different. I highly do not recommend shorting natural gas ETFs.... those don't believe in Murhpy's law, at least when I try to scalp them. What is some good software to conduct more overhead research? Is examining price behaivor in Excel sufficient? Perhaps some of you use Matlab or Mathematica? Thoughts?