This morning, WTI oil is trading sharply lower by $3.74 to $105.51 a barrel. When the U.S. Dollar rallies higher most commodities will come under some selling pressure. The United States Oil Fund(NYSE:USO) is trading lower by $1.32 to $41.94 a share. Traders can watch the $40.90 area for intra-day support. This is also a likely bounce area for the USO should it trade down to this level.

Many leading energy stocks are trading sharply lower this morning. Exxon Mobil Corp.(NYSE:XOM), Chevron Corp.(NYSE:CVX, and ConocoPhillips(NYSE:COP), are a few of the giant integrated energy stocks that are coming under selling pressure from a stronger U.S. Dollar. Traders should understand that if the U.S. Dollar continues to move higher most leading energy stocks could trade lower. On the flip side, if the U.S. Dollar begins to fade and trade lower these energy leaders will likely bounce higher.

Nicholas Santiago
InTheMoneyStocks.com

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As the markets continue to tumble, a few green stocks show clearly on the radar. Stocks higher on a day like today show impressive strength. The question becomes, do investors sell these stocks into strength or hold them for further gains.

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This morning, the U.S. Dollar Index futures (DX U1) are soaring higher by 0.53 cents to $74.29 per contract. As we all know by now, when the U.S. Dollar Index trades higher the major stock indexes will usually come under selling pressure. Selling pressure might be an understatement, the Dow Jones Industrial Average is trading lower by more than 320.00 points to start the day. The next important intra-day resistance area for the U.S. Dollar Index futures will be around the $74.50, and $74.67, and $75.00 areas.

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