View: Kimble Charting Solutions Blog » “Trick or Treat” coming from...

CLICK ON CHART TO ENLARGE

Correlation between Crude Oil and the S&P 500 has been very high over the past few years!  Both peaked on 9/14/12 and have moved lower since those highs. This morning Crude Oil finds itself on a key support line, dating back to the 2009 lows.

If Crude Oil holds on support at (1) in the above chart, it would be a "Treat" for the broad market! 

A failure to hold on support, would get rather "Tricky" for equities as they would move a good deal lower!

"HAPPY HALLOWEEN" everyone!

-

Be Sociable, Share!