As we noted earlier, the big shocker of the day has to be the fact that stocks are performing so well in the face of the surging and plunging commodities.
Are we seeing the start of a huge shift in the battle between stocks and commodities?
Basically since the late 90s, commodities have crushed equities.
Here’s a look at the S&P vs. Crude showing the relentless underperformance of stocks.
But the equity vs. commodities battle has raged on for decades, and swings.
As this chart from Stfel’s Barry B. Bannister indicates, it may be time for a big swing back.