~ ITZ STOCK CHARTZ ~
Stock Observations Using Technical, Fundamental & Sentiment Analysis
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 $SPX approaches 1050 level.
Oil looks like it is set to breakout out of a "Cup & Handle" formation...very bullish. That coupled with a bearish dollar...could equal a market top and correction.
*click on chart to expand image
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$USD $WTIC $SPX
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