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CRB Commodity Index prices fell -13% since the 1st week of July, and the S&P 500 had a +88 point move from the mid July low. Is that going to improve consumer confidence? Uh, yeah!

The Michigan Consumer confidence for July improved in July, coming in at 61 vs. 57 expected. Stocks, fortunately, are discounting mechanisms of the future however, not trailing data. Now that the 1st round of inflation deflating and shark bite short squeezing has passed, I expect consumer confidence to fall again in August.

The confidence "Trade" was up. Keep a trade a trade. The confidence "Trend" remains negative.
KM
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