A Dramatic Test Setup

The efforts of the FED and Washington to jawbone the markets out of the Christmas eve swoon are increasingly impressive, but the key question is, does it change the Macro environment.  We will soon find out if January 26, 2018 was an important date. No doubt increasing debt to keep everyone happy, government, corporate, or personal, has been key to the euphoria.

See our Economic Fracture chart updated through this morning.