Lack of Conviction

(1) Convinced vs. unconvinced investors. (2) Ice patch vs. soft patch. (3) Chart technicians seeing bearish patterns again. (4) S&P analyst’s share count is bullish. (5) S&P 500 forward earnings recovering as Energy stops plunging. (6) Fed working to avoid tightening tantrum. (7) Regional business surveys diverging. (8) Upticks in capital goods orders and new home sales don’t put an end to soft patch. (9) BEA working on fixing GDP’s residual seasonality problem.