Thanksgiving

Happy Thanksgiving! We will be back on Monday, November 27. (1) Thanks to family, friends, and others. (2) Next stop for S&P 500: 4 x 666, then 5 x 666. (3) Second best bull market since 1928. (4) Raising S&P 500 target for mid-2018 to 2700-2800. (5) Tax cuts could trigger meltup. (6) Oh no! FY 2017 federal deficit was $666 billion. (7) Federal government outlays at record high, led by spending on redistributing income. (8) Tax receipts flatten despite strong payroll tax receipts. (9) Actual corporate tax receipts suggest even lower effective tax rate. (10) Leading indicators pointing higher for economy.