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Oppenheimer Spots S&P 500 Signal Unseen in 15 Years
GuruFocus ·
GuruFocus reports: The S&P 500 is flashing an unusual internal-market signal as its correlation with its biggest stocks falls to the lowest level in at least 15 years, according to Oppenheimer. The divergence is not necessarily bearish by itself, but history suggests it can precede a sharp return to synchronized trading, sometimes during broad market declines. Oppenheimer technical analyst Ari H. Wald said the three-month rolling correlation between the S&P 500 and a basket of its largest…