500 index needs Crude Oil to hold at support right now!

Posted by Chris Kimble on 10/25/2012 at 6:37 am; This entry is filed under Crude Oil, S&P 500.

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Crude Oil and the S&P 500 have done a great job of falling in price, at the same time over the past few years.  Crude Oil is on support, of its flag/pennant pattern at (1) above.

Crude oils near term price action could have a ton to say about the next big move in the S&P 500 index.  500 index needs Crude Oil to hold right here!  Don't lose sight of what Crude Oil does over the next few weeks!

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