Replies to post #89069 on Zeev's Turnips Patch-No Politics (ZEEV)

[brainlessone]

while i cannot deny the difference in internals from last october, the first few days of the october rally were met with some skepticism, and there was a relapse, then a broadening and more up. the rsi is only 50 on the bp compq and the macd has just turned. could there be more up?
http://stockcharts.com/def/servlet/SC.web?c=$BPCOMPQ




i do not know why the chart does not come up

[mike2223]

Zeev - check the oil futures chart. Also compare the long term (inflation adjusted) cost of oil chart I posted last week. I think it is as simple as oil futures crashed, markets propelled up. Cheaper oil reduces chance of recession/depression. While markets still overvalued, cheap oil makes it more likely that bottom will be increasingly harder to peg. If Iraq not a quick battle and oil fields torched and oil futures up, market down. With cheaper oil, may have a long, slow sideways grind with dips and brief rally's.