FINANCIAL ICEBERG
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 TECHNICALS
SP500 Technical Behavior:  A SP(OIL)ed Market ?
 January 25  ​( From TradingView )
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The Situation

​​​
In these extreme volatile times, it is interesting to look the
​behavior ​( correlation ) ​of the OIL price in relation ​to the
​other ​Financial Assets.

​​​​As shown by the charts below, this correlation tells that the
​risks in Financial Markets wordwide have been behaving
​according to the OIL market. 
​​​​As the OIL market have become
​more and more since the ​summer of 2014 as US Dollar
​collateral for the main explanation for financial behaviorists.


Market have become so nervous that the pure and simple Risk On Risk Off is in summary the way OIL price is evolving; a scary trend indeed...​​

Observe the positive correlation between the Oil price and the SP500 Index. It reached last week the highest level since mid 2014... ( First Chart below - Grey Line - Bottom Panel )

Observe the positive correlation between Oil price and the Emerging Markets Currencies ( CEW ETF  -  Wisdomtree Emerging Market Currency ). It reached last week peak Correlation Level...
( Second Chart below - Grey Line - Bottom Panel )

Observe the negative correlation between Oil price and the Gold price. It almost reached last week peak Correlation Level...  ​( Third Chart below - Grey Line - Bottom Panel )

​Observe the negative correlation between Oil price and the Chinese Yuan (  USDCNY exchange rate). It almost reached last week peak Correlation Level...
​( Fourth Chart below - Grey Line - Bottom Panel )

​Observe the negative correlation between Oil price and the TLT ETF( iShares 20+ Year Treasury Bond Fund  ). It almost reached last week peak Correlation Level... ​( Fifth Chart below - Grey Line - Bottom Panel )

​​We must realize that there is a negative Macro Correlation between the Oil price and US Dollar Index, as the Oil price is a pure collateral within that world globalization environment and that the market have been trading lately in a binary manner with the oil price... ​​( Six Chart below  )






SP500 Technical Behavior: A SP(OIL)ed Market ? $SPY, $OIL  #Trading #oil #gold #SP500 #yuan


Oil Price ( Top Panel - Candles)​
Emerging Markets Currencies ( CEW ETF Wisdomtree Emerging Market Currency ) ( Top Panel - Bar Chart )​
​ CORRELATION ​
OIL over CEW ETF ( Bottom Panel - Blue Area )
Oil Price ( Top Panel - Candles)​
SP500 Index ( Top Panel - Bar Chart )​
CORRELATION ​
OIL over SP500 Correlation ( Bottom Panel - Blue Area )


Financialiceberg.com
Financialiceberg.com
Oil Price ( Top Panel - Candles)​
Gold Price ( Top Panel - Bar Chart )​
​ CORRELATION ​
OIL over Gold Price ( Bottom Panel - Blue Area )
Oil Price ( Top Panel - Candles)​
Chinese Yuan - USDCNY ( Top Panel - Bar Chart )​
​ CORRELATION ​
OIL over USDCNY ( Bottom Panel - Blue Area )

Oil Price ( Top Panel - Candles)​
TLT ETF ( iShares 20+ Year Treasury Bond Fund  )( Top Panel - Bar Chart )​
​ CORRELATION ​
OIL over TLT ETF ( Bottom Panel - Blue Area )

Monthly
​Oil Price ( Top Panel - Candles)​
US Dollar Index - DXY ( Top Panel - Bar Chart )​

Financialiceberg.com
Financialiceberg.com
Financialiceberg.com