There have been a number of commentators noting the similarity between what is happening in the market to the late 2015 early 2016 period.  If the analogous action holds true, that doesn’t bode well for the markets heading into 2019.

During January 2016, the S&P 500 Index fell some 15%, the worst January in the past 10 years.

One of the key similarities is the steep decline in oil prices.  If you recall starting in September 2015 the price of oil took a precipitous fall eventually declining by over 50% to a low below $30 per barrel.

Though recent decline hasn’t been as deep, currently, it stands at $50 per barrel, but it’s been equally steep and there is no sign the selling is over.

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Source:TradingEconomics.com

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