Wednesday, June 1, 2011
Crude Oil (CL) / Russell 2000 (TF) Daily 6/1
divergence pointed out in yesterday's post seems to have come through. Three out of four of the equity indexes that we regularly post about have engulfed at least yesterday's move (nasdaq not quite, but close as it lags behind) and look to erase yesterday. While in earlier posts I had thought a retrace back to channel highs for equities was very possible, yesterday was a surprise, and hopefully it will just be a forgotten memory soon.