A weak underlying economic backdrop, similar to 1932-1937, still exists. Do not confuse the manifestation of global capital flows (infinite QE), rising equity prices, as a reflection of underlying economic strength. In other words, a change in the global capital flows will change the trend(s) regardless of the economic backdrop.
Signs of an improving domestic economy are helping send stocks higher for the second straight day. Major indexes all rose in early trading Thursday.
U.S. Large Cap Total Return Index (LCSTRI); S&P 500 Total Return Index:
Average Weekly Initial Claims State Unemployment (AWIC) And YOY Change:
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