The market will pay close attention to the price of oil when it reaches extremes. Otherwise, there is little cooralation between oil and the market, imho.
the market likes a little inflation and energy is now 20-25% of the averages to boot. look at the ftse its all oil and mining.
Wrong again my friend. Energy issues make up 10.4% of the S&P 500 index. This is up from 7.4% of a year ago, and the current weighting is the highest for the energy sector since 1993. Perhaps you should do some homework before you make a post on ET. You might actually learn something and in the process post correct information as statements of FACT for a change.