More upside in oil and more pressure on equities it seems. Our market rejected Friday’s move following a weak session on US markets on Friday night. The XJO closed down 66.4 points or 1.4%, closing near the lows after tracking lower most of the day. The only sector in positive territory was Gold after the precious metal found more strength in the last couple of sessions. All other sectors were in the red. Consumer Staples, Consumer Discretionary, Industrial, Metals / Mining and the Materials sectors all suffered most, all closing more than 1.5% lower. Few discretionary setups are presenting themselves, so the sidelines are probably a good place to be until we get some clearer indication of trend direction. The US futures are lower at time of writing. Shanghai is bucking the trend and is currently up 1.92%.