Volatility of Animal Spirits…

Over the past few weeks we are rightly seeing our Market Multiplier Index making some important moves. Last Monday, a week ago, it peaked for the year at 3.16. Then Friday after the employment number it dropped to 3.00. Today it is bouncing up to 3.10 area but averages are headed downward. I am looking for a test of the important 2.94 area, the so-called Biden high in coming periods.

And then down the road an attempt at a new high whenever the 2 year yield starts reacting decisively to weak economic numbers.