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 makes sense...

Finish reading this report for free

Enter your email and we’ll send the paywall-free link directly to your inbox

In addition to your unlocked report, you will receive our weekly market newsletter FSI Snapshot, as well as occasional updates and offers from FS Insight. You can unsubscribe at any time. For more information, see our privacy policy.

Get unlimited access to Tom Lee’s Fundstrat research Subscribe
Already a member? Log in
Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You are reading the last free article for this month.

By continuing, you agree to the Terms of Service and Privacy Policy.

Already have an account? Sign In

Trending tickers in our research

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You are reading the last free article for this month.

By continuing, you agree to the Terms of Service and Privacy Policy.

Already have an account? Sign In