I was going to make this a premium post (since Gold and Platinum members are the only folks with access to layered charts) but I’m light on content so I’ll just make it for general viewing. Anyway, it’s Thursday afternoon, which means all the government data that secretly drives the stock market has come out:
Run ’em through the SlopeCharts mill, and we get a target price for two weeks out on the S&P 500. What’s remarkable to me is that this is a full 500, yes 500 points lower than present price levels.
We haven’t seen a spread this big in eons.
Now that all the important earnings are in the rear view mirror, it’s all up to the jobs report Friday morning. Friday is going to be a very interesting day.