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This (Crashing) Trend Is Not Your Friend

This (Crashing) Trend Is Not Your Friend

Despite Yellen's best efforts today to basically dismiss any and all data as irrelevant going forward in The Fed's decision-making process, we suspect all eyes (and algos) will be firmly glued to this week's payrolls' data. Will it be another record month for Obama to crow about? Will Mark Zandi do the "told you so dance" to all the trump supporters who seem less exuberant about the recovery? One look at this chart  - and the disastrous trend - and we suspect, sooner-rather-than-later, the fecal matter will be striking the rotating object in America...

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