Signs of an S&P vs. Crude Oil Price Inversion?
If we step back from the screen, and look at this comparison chart with a less myopic perspective, then we just might see a Rolling-Top Formation on the e-SPH, juxtaposed against a Rounded-Bottom Formation in NYMEX Crude Oil.
That said, to confirm the inverted patterns, the e-SPH has some work to do on the downside, chewing through support between 1982 and 1970 for starters, whereas Crude needs to preserve its three day upmove from $43.58 to $50.56 (+16%) prior to climbing above its prior recovery rally high (1/15) at $51.75.
If both conditions are met (in e-SPH and in Crude Oil), then "the market inversion" will really gain steam-- the worst of both world's for investors and consumers: recovering oil and deteriorating equities.