HH The Coronavirus Has Shaken Consumer Confidence

And now? Just last week, the ratio broke out of its congestion area and seems headed south to test a late-2018 support area. If that’s violated, a retracement to a mid-2017 resistance plateau could ensue. In a nutshell, the ratio’s telling us, more definitively than ever, that consumer confidence has--or soon will be--shaken severely. 

In the weeks to come, that blue trend line is the thing to watch. If breached to the downside, there could be dramatic economic and political consequences.

Keep your powder dry.

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