Zeev's Turnips Patch-No Politics (ZEEV)

[federal reserves]

SnP Close 1033/Future 1023

Huge gap down on the cash.

SnP barely trading above the 1015 June Spike high.

In essence, after a huge March to June rally, the index has done nothing. During this same time, starting in August, the money supply has dropped and last month the BLS reported that average weekly earnings FELL for the first time in 14 years. The REFI index which has supplied consumers with fresh credit has collapsed and home prices fell last month to boot.

This is called a recovery.