Actually, There Was Something Really Weird About Friday's Market

Earlier we described the the rapturous nature of Friday’s market — gold up, stocks down — but there was something pretty weird that happened.

In contravention of recent patterns, there was a major divergence between equities and commodities (even the industrial ones). They’ve been trading pretty 1-to-1 for ages, except for the days recently when equities outperformed.

So this is definitely a switch. Of course, could totally be a one-day blip.

Here’s OIL vs. the S&P today.

chart

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