Crude & Energy Stock Gap (by LZ)

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Here are the 2014 and 2018 gaps. In one case CL runs away to the downside and the S&P 500 doesn’t peak until later, in the other XLE catches up amid a broad equities correction 

2018 is a closer analog to the current backdrop in equities assuming the rally is done.

2014
2018
Crude/XLE Spread presently
Spread tinted for emphasis