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Yuriy Matso highlights a sharp decline in optimism among U.S. consumers.
According to Matso, the OECD Consumer Confidence Index, which measures how optimistic U.S. consumers are about their finances, jobs, and the broader economy, has recently dropped to an all time low.
Matso has recently flagged other notable shifts in market sentiment. He observed a renewed divergence between the S&P 500 index and the percentage of its stocks above the 200-day moving average in a previous analysis. In a separate report, he noted a sharp drop in VIX term structure that suggested market optimism and a possible bullish scenario at the time last Friday.