New month will make for a choppy market
S&P 500 futures are down 15 points after a 47 point rally on Friday.
The gains on Friday may have been exaggerated by portfolio rebalancing and that's likely what will unwind in early trading.
It's not a great day to take signals from the stock market as flows drive price action. A better spot to watch is oil. Crude is down $1.38 to $32.24 and near a session low.
Note that we're entering a strong seasonal period for crude.
