Leaderboard

Well this is a double digit decline......7.2% + ~5% inflation = -12% real fall But your right the peak to trough ~24% fall in earnings that accompanies a traditional recession is still to play out Earnings going down while SPY goes up = bear market rally The fundamental are disimproving & we still have an inflation problem. How you trade that is up to you. This chart below tells the story about the recent rally of the October lows: Price diverging from earnings.......now you could argue that somehow the market is looking through those earnings.....but if you overlay the inflaiton problem.....they are looking through with way too much optimism....kind of like inflation is done (without unemployment/GDP contraction) delusion