Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Oil and the Equity Indices Begin to Diverge

Today's action in Oil vs SPZ shows a huge, glaring, positive divergence for Oil for the first time in weeks.

Whether or not the relative strength of Oil will sustain will be the question during the afternoon session.

If the e-SPZ has reached near-term upside exhaustion, and reverses sharply lower later today, will Oil be able to preserve some or most of its morning gains?

Right now, my near- and medium-term work argue "yes," the upside breakout in Oil will prevail and diverge from equity-market weakness.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!