Picture perfect timing:
Stocks and oil: 93% correlated:
U.S. Oil ETF
In the meantime, all of this "good news" has been priced into oil and all other risk assets alike, with some notable divergences...
Oil with oil services stocks
Oil with all Energy stocks:
Oil with 4x overvalued Chevron. One of only two "safe" Energy stocks...
Oil with 2x historically overvalued Exxon. The other "safe haven" in Energy...I think we all see where I'm going with this...
On to Tech:
Having completed a second retracement, today Apple is back at the 200 day, demonstrating the Elliott Wave principle that the news breaks with the cycle...
ZH: April 15, 2016
USD/JPY breaking down again...
Staples: ready for the hardest landing...