claydoctor
Short

Oil and the SPX500 are tied at the hip

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
53 1 0
This correlation speaks volumes right now. The red X is where the markets watch oil             go lower than the previous low, lower than they thought, were scared it was going to collapse, equals flash crash in stocks . In this HS pattern of oil             , the left shoulder and head, when the price of oil             futures went lower than the previous lows of each structure, blue lines and green circles, it went very low, and the markets reacted with that move lower. This right shoulder reached that same point and bounced, and so did stocks . The entire investing world has either gone long OIL             or wants to go long OIL             . Its the honey pot. And now we have the S&P             staring at major resistance the previous highs. And we have Oil             staring at its upper trend line , thin blue. Indicators are neutral. And the FED has gone and starting "talking" big time publicly about raising rates in december. The newest news that could effect is ISIS             bomb a Russian air liner. Putin will retaliate, and not like a weak Obama, like a lion, like a bear , like he has been waiting, almost set this up to happen. What better way is there to increase the price of oil             , for a country based on oil             production, than to restrict supply lines or shut down oil             rigs, AKA a war right there in the Midde East where, you guessed it, there are one heck of a lot of oil             rigs. We El Nino took away the hurricane threat the the gulf oil             rigs. How is Putin not justified by protecting his troops in Syria than to do what he wants, because he knows the US will not stop him. I have no data for this, but how does tat story sound to you? This last triangle for oil             , between previous low and upper trend sets the stage. Time will force it one way or the other. Do we complete the right shoulder or just go up from here? Time will tell. My opinion is we touch the blue previous low one more time before??????
Thanks Clay, could you take a look at gold? a while ago you were bullish
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