Consumer Sentiment registers an above average reading--11/14/2014
As readers of my research know, I am a big believer that human beings and their behavior drive the market. Therefore, I watch closely and observe the "mood" of the market participants. One of my most important metrics in regards to this "mood" is the University of Michigan Consumer Sentiment Indicator. Well, today that metric registered and above average, or optimistic, reading.
This is important for many reasons, some of which are detailed in the "Don't Fight the Fed" research report I put out a few months ago. And it is interesting to consider that the U.S. Consumer hasn't felt positive about their situation (that is, the indicator hasn't registered an above average reading) since July of 2007. That equates to 7 years of a negative vibe surrounding our economy and markets. And now, finally, we have our first "green shoot" of optimism.