The crude inventory figure is pushing up oil prices and that is hurting the markets. That is preventing investors from being too euphoric.

It's not as if we haven't dealt with crude prices at these levels, but again you're pushing up against the historic highs.

Clearly, the signal event of the day was the explosion in Saudi Arabia, which provided some excitement in energy. But we're clearly in a place where people don't want to own the wrong stuff over the weekend. Everybody's sort of meandering along.

A couple things this morning are being driven exclusively by the option expiration tomorrow. It's just a fact of life that you get some abnormal activity in the week before, and certainly the week of, the option expiration.

Texas Instruments is hitting a new high and that's always encouraging. There are these points of light that are stimulating interest in technology, and it's a developing trend that's positive.

When the market is uncertain, it either drifts or goes down. Looking at the economic figures that we're seeing, it tells you that inflation is coming. I suspect the Federal Reserve will keep beating on it gradually.