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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (39365)	10/24/2012 6:30:10 PM
From: Keith Feral	Read Replies (1) \| Respond to of 219202

My list of negatives is basically down to Apple and oil. Apple is set up for a tumble after earnings tomorrow, and oil looks positively terrible on the charts on a monthly, weekly, and yearly basis. Now that crude is comfortably below last years close of $92 at $85, it could easily retest the June lows around $80. If it doesn't hold that area for very long, it's back to $65. I think the market reaction to lower oil prices will depend entirely on the bond market. If yields stay firm as oil slips, I don't think it will be much of a macro problem. If the yield curve begins to disintegrate, I guess a bigger drop in oil prices would create further selling pressure in other sectors. At some point, we need the drop in oil prices to create longer term growth again.