Presented with one comment... Di(e)Vergence?
Stocks vs Macro Data - too snowy, too droughty; closed ports, lower oil prices... any more excuses? Macro data - already drastically revised lower - continues to disappoint on a scale not seen since 2008
Stocks vs Earnings Expectations - no lift in earnings expectations despite talking heads proclaiming earnings sesason a success (which it is not even with already collapsed expectations)
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Stocks vs GDP Expectations - the sell-side weathermen were once again surprised that winter was wet and cold... but think of all the pent-up demand?
[5]
The sell-side analyst's ruler of recovery at its finest... providing all the retail-investor reassurance needed...
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But, as BofAML's 'The Flow Show' exhibits, professionals are exiting en masse. Stocks vs Equity Flows...
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With outflows in 9 of the last 10 weeks - and $79 billion of outflows from equities year-to-date - BofAML's 'Flow Show' report warns that with stocks are record highs the risk of a correction continues to grow.
So, macro, micro, and flow data all show weakness but stocks remain at record highs on collapsing volume - Fragile much?
And remember, next week is the 7.5 Year Itch... [8]
[9]
Charts: Bloomberg, BofA, and @Not_Jim_Cramer
