WTI crude oil futures drag the stock market higher
Markets are breaking the rules and it is mostly due to various forms of intervention (opinion). Crude oil prices firmed up on news of tighter than expected inventories, but it was also helped along by comments from a prominent OPEC member suggesting the phase of lower oil prices is over. Similarly, the equity markets are being propped up on hopes of stagnant Fed policy in December (and November of course) and expectations of a Clinton victory (which is "comfortable" for market participants adverse to uncertainty).
It feels like each of the factors keeping stocks afloat are based on ideas rather than concrete fundamentals. Further, these things can change in the blink of an eye. For example, firm trade in crude oil helped to prop equities up today but after crude oil printed at levels not seen in over a year buying dried up. We could easily see sellers come into the oil market which would act as a weight on the S&P.