Energy stocks have diverged sharply from WTI Crude

The selloff which began last Tuesday does not yet look complete, but I’m expecting this will be finished by this Friday into Powell’s Jackson Hole speech.  Given the extent of the recent selloff and accompanying gaps, it’s possible that 4100 might be violated by a small amount.  However, I’m not expecting that 50% of $SPX’s rally from mid-July should be undercut.  Thus, expecting a bit more weakness, though with a floor near 4000 ma...

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