“Davidson” submits:
Real Personal Income rises on trend. The before and after revisions higher are displayed by the two charts respectively. The revisions were not as dramatic as prior. A rising trend is a good indication of no recession in our immediate future as some are holding to.
Market sentiment is rapidly evolving towards a positive Traditional Yield Curve i.e. 10yr minus 3mo Treasury. This indicator has risen from -1.44% late August to near -0.30% today(see SP500 vs. 10yr minus 3mo…). As noted last week, this is less than 10dys away from turning positive should this pace keep up. A positive Yield Curve by this traditional indicator has always produced investor enthusiasm for industrial and energy issues.
