In this short video we address the opposing voices in the market. The recent economic and money based indicators reinforce the recession view, while the momentum in the market (including today’s recovery) is reinforcing the upside momentum in the market looking out 6-12 months. Which is right? Our base case suggests both. The weak economic and money data is likely to become more evident in earnings and Unemployment leading to a move back to the October low, while important market indicators point to gains 6-12 months out.
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