I'm seeing this pattern lately. Its very convincing. It looks like anytime there is a big move bullish in energy, markets sell off. Then after energy trading settlement, indexes start buying back. Anyone here convinced there is some sort of large volume short selling index program that coordinates with large witnessed moves in energy? right now the covering is happening.
Where you trading a couple of years ago when energy prices were really were exploding? We saw some moves in equity markets tied to energy moves then, but I haven't seen that type of correlated activity for awhile.
i see the media printing the following quite often: s&p's supported by oil stock rally. and on another day, the same guys will say: markets down on higher crude oil. seems like there's only a correlation as you describe whenever it's happening. and oftentimes, it doesn't happen.
This old school type of program trading is totally different from buying/selling that would come in due to moves in other asset classes, with the exception of the bond markets(interest rates).