US Stock Market vs Crude Oil vs Dollar

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US Stock Market vs Crude Oil.    Another correlation is US Stock market vs the Dollar.  Everyone keeps on talking about these correlations so we wanted to see what the charts tell us over fundamentals which keep changing.

In order to see the charts, a customized Ichimoku relative strength charts was created in Tradestation.    Below are the weekly charts for the two correlations.

First, let’s talk about the US Stock market vs Crude Oil.  We have plotted the E-mini SP500 Futures against the Crude oil Futures.    The chart is going up which indicates the US Stock market have been leading crude oil.   However, for the last couple of weeks we are consolidating which really has not occurred since Oct 2013.   The more we consolidate, the higher the probability of the charts to go down because the supports are getting weaker.


Below is a chart of US Stock market vs US Dollar.  We have plotted the E-mini Sp500 vs Dollar futures.    The chart shows that we have reached a resistance.    Notice, the pivots are going down too.   If this patterns continues to hold, this means the chart will go down where the Dollar will start to gain strength over the US Stock markets.    If the resistance breaks the Dollar will continue to get weaker and the US Stock market will get stronger.



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