In all the following charts, the green line is the S&P 500...
Crude Oil is diverging...
High Yield Credit is diverging...
US Macro Fundamentals are diverging...
10Y Yields are diverging...
The USD is diverging...
Earnings expectations are diverging...
and Current earnings are diverging...
Current US GDP is diverging...
US GDP expectations are diverging...
and Dr. Copper is diverging...
But... there is one "asset" that is not diverging from the S&P 500...
Still think its "all about the fundamentals"...?
