The Depression Playbook is in the Oval Office

Yesterday’s comments lay out the factors.  In what has been an inside week in the stock market, we should see a bout of euphoria which will set up an opportunity day for those looking at this Friday action as an opportunity day where the build-out runs out.

Update at 10:45 CST

The Atlanta Fed just updated their GDP NOW forecast for the first quarter. Revised down to 2.5 %, to us further evidence of our current assessment.