Stocks Have Crude Awakening
The stock market pulled back for the second time in three weeks as the major indices react to a spike in crude oil prices and deal with a pile of overhead supply. The S&P 500, DJIA, and Nasdaq are all dropping back toward their recent breakout points, and we think it will be very important for the indices to bounce off of these important support levels. While crude oil is in a very powerful uptrend, we believe that oil prices are quickly approaching an important intermediate-term peak, and believe this may take the temporary lid off of stock prices.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Smartphones Are Killing Americans, But Nobody’s Counting
- Why a Pub in the Middle of Nowhere Was Named the World’s Best Restaurant
- Turns Out It Will Be Congress's Fault When Stocks Crash
- Facebook and Google Helped Anti-Refugee Campaign in Swing States
- Ford to Take $267 Million Hit From Recall of F-Series Trucks