Monday, August 24, 2009

Higher Oil Could Hinder Stock Rally?

Could Oil ($WTIC) breaking over $75 hinder the recovery and the stock market rally? A lower dollar could push oil higher as the $SPX approaches 1050 level.

Oil looks like it is set to breakout out of a "Cup & Handle" formation...very bullish. That coupled with a bearish dollar...could equal a market top and correction.

*click on chart to expand image

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