look4edge

SELLOFF IN OIL SUPPORTS SPX

Short
According to this spread chart, current price relation OIL / SPX and price movement are nothing new, they resemble late 90`s - like many other things (e.g. dollar strength, biotech bubble = dotcom bubble, or check http://blogs.barrons.com/stockstowatchto...)

The peaks corelate with turning points in Gulf War and Iraq War.

The bottom of the spread could be distant another 10% at minimum, although now the spread could bounce from intermediate support and retrace last huge drop. However, both OIL and/or SPX have lot of time till their trends will turn.

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