Oil and Stock Prices: Challenging a Widely Held Belief
See a chart that tests a 52-week correlation between oil and stocks
by Bob Stokes
Updated: January 24, 2018
Should stock market bulls worry more when oil prices are rising... or falling?
You might be surprised at the answer!
Regarding a historic, 52-week test of any correlation between oil and stock prices, the Elliott Wave Theorist noted:
Sometimes it is positive, and sometimes it is negative. In fact, during this [testing] period it has been positive for more time than it has been negative!
So much for the myth that rising oil prices are "always negative for stocks."
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