As the price of oil cratered, a debate waged over whether lower prices were good or bad for the economy. I have been vociferous in stating that lower oil prices, while a boon for the consumer, also have dark side.
The shale oil boom has not only made the U.S. more energy independent, it has also been the fuel for the robust economies of Texas and North Dakota. Moreover, the signal that lower oil prices emit is that of a slowing global economy.
At times, the broader equity market has both agreed with me and made me look like Chicken Little. However, the recent sharp decline in stocks has many investors wondering when the slide in oil will stop. Trying to pick an absolute bottom in any market is a fool's errand, but there are a few signs that a turn may be coming.