This chart helps visually highlight the chart we just displayed above and hammer home the point that the next move in crude from its support should dictate near term market direction.
S&P 500 vs. Continuous Crude Oil Contract
click for larger chart
As this layover chart shows crude and the S&P have tended to remain inversely related. When crude scored its recent peak (black arrow) the S&P was setting a trough (blue arrow) and as crude continued to fall the S&P continued to rally.
Quote of the Day:
“Whoever wants to reach a distant goal must take many small steps.”
-Helmut Schmidt, German Chancellor
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.