Chart of the Week: THE PRICE OF OIL VERSUS STOCKS

Monday, August 09, 2004 | 02:32 PM

Is Oil topping? It certainly looks extended below, as it has accelerated to a third and increasingly unsustainable up trend angle. When crude broke long-term resistance in the $41-42 areas, at the end of July, stocks attempted another rally, in anticipation that crude oil would turn down against resistance. Once crude broke to new all-time highs, the short rally in stocks failed.

THE PRICE OF OIL VERSUS STOCKS
click for larger chart
oil_prices
Source: Decision Point Research

Carl Swenlin notes that “Oil has moved into uncharted territory and is above historical resistance levels. It could be headed for a major blow-off, or it may have moved permanently into the bottom of a new long-term trading range.”


Random Items:
CASH KILLS
Cement shortages are spreading
Decentralized Intelligence
The President's Jobs deficit
SECURITY IN THE CONTEMPORARY WORLD
How not to buy happiness

Quote of the Day:
"To do the useful thing, to say the courageous thing, to contemplate the beautiful thing: that is enough for one man's life."
- T. S. Eliot (1888-1965)

Monday, August 09, 2004 | 02:32 PM | Permalink | Comments (0) | TrackBack (0)
de.li.cious add to de.li.cious | digg digg this! | technorati add to technorati | email email this post

bn-image

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c52a953ef00d83506c40d53ef

Listed below are links to weblogs that reference Chart of the Week: THE PRICE OF OIL VERSUS STOCKS :

Comments

The comments to this entry are closed.



Recent Posts

December 2008
Sun Mon Tue Wed Thu Fri Sat
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31      

Archives

Complete Archives List

Blogroll

Blogroll

Category Cloud

On the Nightstand

On the Nightstand

 Subscribe in a reader

Get The Big Picture!
Enter your email address:


Read our privacy policy

Essays & Effluvia

The Apprenticed Investor

Apprenticed Investor

About Me

About Me
email me

Favorite Posts

Tools and Feeds

AddThis Social Bookmark Button

Add to Google Reader or Homepage

Subscribe to The Big Picture

Powered by FeedBurner

Add to Technorati Favorites

FeedBurner


My Wishlist

Worth Perusing

Worth Perusing

mp3s Spinning

MP3s Spinning

My Photo

Disclaimer

Disclaimer

Odds & Ends

Site by Moxie Design Studios™

FeedBurner