Lol, leading ... sheep to the slaughter ;-) Just kidding, but it can be a “ leading indicator “ , as , I’ve certainly “ heard” that a lot lately. However, if we “ followed “ the market into mid February , even when Carona was known to be here in US, the we followed it off the cliffs edge. Markets are irrational, which is why bears can be slaughtered even when logically they may be right in their position, and why markets can sell off for no apparent reason.
The market is a wild, crazy beast, that we try to discern moves of, by guessing at which way the links of its chain move before it strikes. ;-)
I think if markets want to go up, then they go up, vice - verse, and I don’t think it has a lot to do with current, or FUTURE economic conditions.
“ forward looking “ is a convenient phrase analysts use when they can’t really explain why markets are behaving a certain way at the moment, as if they ever could explain it to a certainty anyway.
Just a wild beast, SPY is
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