“Davidson” submits:

Job Openings data has been revised from Dec. 2000. The latest report nearly eliminates the dip shown in the previous data indicating that the current uptrend remains in force. Temp Help data reported last week confirms this perception. We should expect higher Real Personal Income, higher Real Retail Sales and higher Employment the next 18mos-24mos.

(Click on image to enlarge)

(Click on image to enlarge)

I expect that continued improvements in economic data will convince the current level of investor pessimism to abate and equity prices to rise in response.