Oil and the SP 500 have been very correlated for the last few years. Right now, Oil is at resistance. IF that resistance is, broken expect more downside on the SP 500.
Comments
Algokid
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Price of oil is holding at the current support, "might' be good news for the SP500................"might be "
QuantitativeExhaustion
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I disagree that NYMEX Light Crude ranged 80 to 110+ for several years is good for global economies. I do agree as we close in on the current patterned symmetrical triangle, $97 pivot, price will turn out very volatile large up move (perhaps headfake) and down move.