I published this chart earlier this year - this is an update to that chart.
The recent rally in crude put some pressure on the S&P500... but by the time the S&P500 dropped the price of crude had dropped far BELOW the lows from late-2013-early-2014 and provided the prop for the overall market.
Oil is only one indicator amongst many, but to go LONG the S&P up here is to hope for further declines in crude oil prices.
The recent rally in crude put some pressure on the S&P500... but by the time the S&P500 dropped the price of crude had dropped far BELOW the lows from late-2013-early-2014 and provided the prop for the overall market.
Oil is only one indicator amongst many, but to go LONG the S&P up here is to hope for further declines in crude oil prices.
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