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Crude oil and the S&P 500 hits highs together the week of 4/29/2011 and hit lows together the week of 10/7/2011. Is a break below support by Crude Oil going to impact the 500 index?
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The above Crude Oil/500 chart reflects key highs and lows in both products have taken place a few times together over the past few years (see post here)
The CRX index is breaking support of late (see CRX 18% decline here) - A few times in the past when the CRX index and Crude Oil were falling together, they impacted the 500 index.
