Market this Friday 7/13

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After briefly inching into positive territory, all three major averages have slipped back below the flat line. Dow +14 points Nas - 6

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More of the same for equities as the blue chip indices and Nasdaq continue to trade in opposing directions. Dow +23 points, Nas - 3.43

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oil prices hitting their highest levels since last August. Crude for August delivery is now up 2.0% and close to breaking through the $74/b level. Earlier, the IEA said it expected global oil demand to rise 2.5% next year to the highest level in four years.

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Dow and S&P 500 have found initial support near key technical levels of 13820 and 1541, respectively, the lack of conviction on the part of buyers questions whether resistance levels of 13950 and 1553 can be breached.
Nas is at its best levels right now -1.60 but still red.

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blue chip averages are holding steady in positive territory but still lack the catalysts to send them noticeably higher. Dow +55 points, Nas +2.76