Stock Market Analysis

Monday, July 21, 2008

Oil vs Stocks... Who Would Win?

The Dow retreated 29.23 points today as it come up against its 30MA short term resistance level. Meanwhile, crude oil rebounded slightly today as it reaches a short term support level. Stocks at resistance and oil at support... who would win? If oil wins and rebounds, stocks would definitely retreat and continue its bear trend but if crude oil tumbles again, breaking its support level, Stocks would certainly have a real chance at a breakout. So, just a short post today stating the overriding concern. The rest of the week does not contain any real market moving economic releases apart from some housing data which are expected to be dismal anyways.

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