Crude Oil's Lagged Impact on the SP500 - What you need to know

I have produced a chart similar to this in the past here at TradingView, however, I decided to make a fresh new one today. The recent selloff in Crude Oil is giving some support to the market over the medium term, but I want you to see the history of the relationship between CRUDE and STOCKS so you can be the judge.

Note on the left side of the chart in the period of 2007-2008 when Crude Oil made its big move from the $60 level up to the $140+ level. That was a massive tax on the economy and I believe it was the break in the dam that broke the property markets and the equity markets, and then later took down the price of crude itself.

In 2009-2010 there was stabilization between the markets as economies stabilized and recovered from their collapses. Since then we have had a stair stepping advance with rises in CRUDE causing turbulence in equities with a lagged response. The most recent episode shows that stocks became volatile but still advanced during the period (note the green arrow on the top right of the chart).

Lately, crude oil has fallen from its recent summer advance and stocks are still correcting from the lagged response of the rise in crude.

So, Although it isn't painfully clear what do specifically from here - it is important that we at least see where we are in the big picture in this relationship between CRUDE PRICES and STOCK PRICES.

Tim SPY = 193.62 last, CL1! = 97.39 last.