Last week was a good indicator of the market. It had a vast quantity of news that allowed us to see what the market seized on as important. Rebounding gas prices helped the Finance Wonk holding of IPSCo, but didn't really hurt the market. An upward revision in jobs (predicted here 6 months ago) was an inflation indicator that held the market down.

This is a trend we will likely see continue. The market has decided (possibly rightfully), that the main danger is inflation but that oil is not a threat. Expect to see the market continue to be nervous on inflation news.