Sometimes one just needs to step back and think, as opposed to getting caught in the eye-twitching idiocy of the JPY-driven ticks in the US equity market day-in and day-out. The following 3 charts may just be that wake-up call that all is not quite as rosy as we are being told and that hope is not a strategy...

The Ugly - US Earnings Expectations have collapsed... (looks like more than a short-term weather thing, eh?)

The Bad - Short-Term US GDP Expectations have collapsed... (must be the weather, right?)

The Good - Medium-Term US GDP Expectations have soared... (what goes down, must bounce back up?)

Because there must always be hope that pent-up-demand, or magic unicorn tear sales will flourish and escape velocity (weather or no weather) will resume as per your local programming.

Do you believe in hockey-stick growth miracles?