Crude oil is massively underperforming the equities this week. I haven't studied up on the times when we've had these kind of divergences, but it does send a warning.
The market is hanging in there better than I expected, but from a daytrading perspective, the buyers seem to be more urgent to get long early in the day than usual. From a longer term perspective, there needs to be more than bearish sentiment to keep driving this rally. It takes a few months for the macro weakness to filter down to corporate earnings. I wonder if INTC's warning is just the first sign of the wave.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment