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Investors eye oil swings, reaction on Greece

ECB's Greek ploy grabs Gartman's attention

The relative resilience in the stock market on Wednesday despite negativity in oil and the euro zone encouraged analysts to expect more of an upside from any positive news on Thursday.

Stock market vacillation held to a tighter range than in previous days, save for the Dow's short-lived 100-point spike near the end of the session. It ended the day up just six points.

"I don't think in this entire cycle (we've had a day) where oil's been off and markets stayed (mostly) up," said Art Hogan, chief market strategist at Wunderlich Securities. "I think it's a testament to better economic data, ISM figures and auto sales."