While major stock market indices continue on with their slow “melt up” on low volume, the two charts below should send chills down your spine.
And not only that. The S&P 500 has a serious revenue problem While quite a few corporates were able to push their accounting to the limit to beat the bottom line this quarter, they might not be able to do it next time around.
Doesn’t matter!!!
Perhaps, but lets review. Low volume melt up, macro data is collapsing and getting worse, earnings are expected to decline, fund outflows, anticipated interest rate increases, buybacks, accounting gimmicks, etc…. And I am expected to believe the stock market is about to surge higher…..Just as I was expected to believe that Pets.com was the next Microsoft?
It will be fun watching the stock market catch up to the down slopping lines below.
