Bullish Indicator. Whine of the Month. Consumer Staples

(1) One of the cobblers. (2) P/E times E. (3) Our Fundamental Stock Market Indicator is back on bullish track. (4) The highest since August 2, 2008. (5) Industrial commodity price index back near record high. (6) Several S&P 500 industries at new bull market highs. (7) Is the fiscal crisis almost over for state and local governments? (8) Lack of hiring depresses consumer surveys. (9) So do depressed home prices. (10) Consumer stocks are not depressed. NOTICE: Our Morning Briefings are now available on FactSet.