Crude oil is now higher for the day leading into the close of energy trading for the day. This is sapped the energy out of what would have been a nice stock market rally today. The charts have moved inversely to one another, and seem to speak for themselves. Each charts shows the 15 minute (left) and 3 minute charts (right). No sustained rally can occur in the stock index futures with crude oil at such elevated levels.
Crude Oil
S&P 500
