Day 66 of the Top
The markets are coming to an inflection point. If one looks at one day, today for instance, all but one of these four indexes are above the 3/7 high. On the other hand the average of all the decision days since 3/7 are below that point. In my opinion all the fundamental factors that have built up since the first of the year, production greater than demand, etc, will play out by the end of this week. Consumption numbers for discretionary items are key. The ongoing costs of health, food, and energy somewhat mask what is really happening but the real weak consumption factors are building.