Chart of S&P 500 Priced in Oil

To be paired with the previous post–a chart of the S&P 500 priced in terms of barrels of oil.  Currently the S&P 500 “sells” for about 16 barrels of WTI crude.  This is pretty consistent with the range that existed in the 80s and early 90s before the index level was the equivalent of 100 barrels of crude.

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