Short-term Analysis on Crude Oil and S&P 500

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The speaker predicts a short-term rally in crude oil prices due to constructive price action and geopolitical uncertainty. They suggest that if the market stays above $78 with corrections limited to $2-$3, there could be a retest of the high around $86-$87 in July. On the other hand, for the S&P 500, the analysis focuses on a potential push to the upside influenced by seasonality, historical trends, and the parabolic phase of the rise suggesting a run further to the upside into July followed by a flat segment into the election time period.

MacroVoices Erik Townsend & Patrick Ceresna welcome back, Rosenberg Research founder David Rosenberg. They discuss, the stock market and why David believes the breadth isn’t there, and the outperformance of SPX is really just three out of the 500 stocks in the index. https://bit.ly/3VRJtBA

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