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Would a decline in Crude Oil prices be good for the S&P 500? The Power of the Pattern ask this question on 2/27 when Crude Oil stood at $109 (see post here) In the past 60 days, Crude Oil has declined around 8% and the 500 index has become fairly choppy.
The 2/27 post reflects a high degree of correlation between the S&P 500 and Crude Oil…Joe Friday suggests that the price action of Crude oil and Gas prices (see post here) could tell us as much or more about the future of equity prices than the jobs report that came out this morning!
Ah, Joe, can’t we have our cake and eat it too?