Yesterday's late rally in Dow looked like either PPT or BUY programs...OIL, GOLD and EURO did not follow...so looked like a classic bull trap...again..
Look at DOW chart above...
The KEY seems to be watch the YEN...a strong yen has been signal for continued selling...see JPY chart.
Any turnaround in markets should be signalled by weaker yen, stronger euro, and rising OIL...and other commodities...YES OIL is POSITIVELY correlated with stocks over the long term..ie OIL falls stocks fall, oil rises stocks rise. Look at any long term charts of oil and dow...
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