Growth in Spending Exceeds Growth in Income for Most of the Last 10 Months
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A deeper dive into personal income and outlays for March shows significant
signs of consumer stress to maintain standards of living.
2022-02-28
Reloading for Bears
These are relatively massive inverted H&S patterns that could produce roughly 7 percent rallies in the NQ and RTY. Neither rally would invalidate the bear market, in fact a rally of that magnitude would produce a perfect analog with the 2008 top: a rally back to the 200-day moving average. This one would be larger because the decline in small caps is larger, but that may speak to this being a bear market of larger magnitude.
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