Oil Price Plunges Over 10% on the 5th Day, Historical Data Suggests Strong Potential for US Stocks
BlockBeats News, June 17th, according to SentimenTrader data, the price of crude oil has cumulatively dropped by 10.31% in the past 5 trading days, while at the same time, the long-term US Treasury bond ETF TLT has risen by 1.30%.
Historical data shows that since 2008, when the market has seen a similar combination of "sharp decline in oil prices and rising US bonds," the S&P 500 index has had an 85% probability of rising in the next year, with a median gain of about 17.04% after one year. This market combination usually signifies that inflation pressure is rapidly easing, and financial conditions are becoming more accommodative.
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