Riddle Me This Batman: What Message is the Oil Market Whispering to Us?
Riddle me this Batman (it is Halloween, right?): After an entire month of extremely close directional tracking (on the downside) of Crude Oil overlaid on the equity market indices, why has Oil negatively diverged during the last 2-3 sessions? The equity market indices are straight up, while Oil cannot get out of its own way, and looks precarious technically as it attempts to hold the lower boundary line of its 6 month channel? Is the equity market embracing the prospect of lower Oil prices, or is the Oil market whispering a message about the health of the U.S. and global economy?