Stocks and Crude Oil Diverge

09/24/2009 9:20 am EST


Thomas Aspray

, Professional Trader & Analyst

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Crude oil and the S&P futures have had a similar path for many months. Both peaked on June 11 and then bottomed within a day of each other in July. Since late August, the S&P has made higher highs, while crude oil has made lower lows. Crude is now testing its daily uptrend after Wednesday's sharp drop, making the next few days critical.