Global risk markets rallied hard this week on news that the U.S. recovery has been postponed until "never"...
2 Year Treasury yield (log scale) with NYSE composite:
Meanwhile, oil is at the exact same level as this time last year, while inventories (red) are significantly higher. Inventories bottomed out late last September:
Each rally in oil has been shorter and shorter. Volume has spiked with the peak in the last few rallies...
Deja vu of last year, momentum has rolled over...
Oil with S&P 500:
