Some people love to hear themselves talk. I am not one of those people, although I do have to communicate quite a bit for my job, which I do happily. This week, my intention is to let some charts do the talking in The Big Picture column. After all, it is said a picture is worth a thousand words.
With the latter in mind, I present you 10 charts -- and 1,000,000 words so to speak -- that show how the market has been considering the notion that it has gotten ahead of itself with its growth expectations.
The tell in the charts is the predominately sideways trading action in recent weeks and months. Whether these trading channels break down and to the right, or up and to the right, will be determined by a compendium of political, economic, earnings, and interest rate developments.
For now, consider this a market that is home on the range of indecision because of mixed signals in the economic data, mixed signals out of the White House, mixed signals from OPEC, mixed signals about the French presidential election, a geopolitical climate that is all mixed up, and signals from the Federal Reserve that it is inclined to introduce more tightening to the monetary policy mix.