Black_Friday-300x222The National Retail Federation estimates that consumers spent 6.3% more this Black Friday weekend than last year.  This may not mean much as last year sales were depressed.  More immediately, investors are selling stocks this morning on comments regarding a lack of progress in Fiscal Cliff negotiations over the long weekend.

Because of the long weekend and the holiday shortened trading day on Friday, there is little notable options activity to discuss.

It is interesting to note that the crude oil chart is trading with a high correlation with the S&P 500.  Shown below are the two charts.  Both stocks and oil peaked in March/April, bottomed in June and peaked again in September.  Oil has broken the downtrend and is currently rounding higher.


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