Back in 2008 the price of oil dropped from all time high at that point of around $147 a barrel down to $50 a barrel very quickly and gasoline dropped as well from being in the $4+ range into the high $1 a gallon range. Now gasoline is being sold in the $1.75 range in the Tampa Bay area. Oil is now below $30 a barrel.
I went to Nasdaq and pulled the last 8 years to see the trend and it looks concerning in the drop. Pretty much same time frame of months of the drop. Also there are talks globally of a slow down economically and lower demand causes the lower prices as well.
OPEC wants to cut production to increase prices by reducing the supply. Now Iran is going to start selling on the open market. If all producing stays the same get prepared for even lower prices.
The stock market is also playing off record highs much like in 2008 before the crash where we say around a 50% drop in the market.
I'm not saying it will happen or when, but as a person that see trends around me this trend sticks out like a sore thumb. It's up to you to decide and do some of your own research, but from a few factors it is leading to a correction. All we need now is some really bad economic news. Maybe it will be the health insurance industry with the government reimbursements or the hiked up tax bills with health insurance being taxed.
Matthew Brower