Another Domino Falls

Summary As oil prices have spiked in the last few weeks, several consumer-related groups fell like dominoes. Yesterday, the legacy auto stocks have had their number called. General Motors has been in a steady uptrend for the last few months, but a nearly 4% decline yesterday has it back below its 50-day moving average and to its lowest level since late July. Yesterday, Ford is down over 4%, taking it below the 200-DMA to its lowest level since mid-May. AlexKalina/iStock via Getty Images As oil prices have spiked in the last few weeks, several consumer-related groups fell like dominoes. Yesterday, the legacy auto stocks have had their number called. We’ll start with General Motors ( GM ). The stock This article was written by Bespoke Investment Group 48.9K Followers Follow Bespoke Investment Group provides some of the most original content and intuitive thinking on the Street. Founded by Paul Hickey and Justin Walters, formerly of Birinyi Associates and creators of the acclaimed TickerSense blog, Bespoke offers multiple products that allow anyone, from institutions to the most modest investor, to gain the data and knowledge necessary to make intelligent and profitable investment decisions. Along with running their Think B.I.G. finance blog, Bespoke provides timely investment ideas through its Bespoke Premium (https://bespokepremium.com/) subscription service and also manages money (https://bespokepremium.com/mm) for high net worth individuals. Visit: Bespoke Investment Group (https://bespokeinvest.com/)