Consumer Spending Shows Unprecedented Results

June 3, 2020

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$ave Your Money: Consumer Spending Data Shows Staggering Reversal

I've been writing for a few weeks now about the genuine changes in consumer behavior that are taking place around the world as governments respond to the pandemic.

Basically, the thesis has been that because of massive layoffs and increased remote working, consumers are spending far less than they ever have been during this last bull market.

And presumably, they're stockpiling cash – whether it be boosted unemployment compensation, stimulus checks or salary -- in case another outbreak/lockdown happens in the future.

Well, just in case you needed any further proof of changes in consumer behavior, I present to you the personal spending data for the month of April, compared to the data point's entire history…

Largest. Drop. Ever.

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What You Need To Know NOW

The U.S. saw civil unrest and anger nationwide the past few days as riots and looting reached their weekend highs by Saturday night.

What's our best move when taking this news into account while looking at the market? How can we use this information to "trade the news?"

Join me as I discuss my thoughts on these developing events. I'm also looking at a comparative chart of the S&P 500 and explaining the message the VIX is sending to traders right now.

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A Flag is a technical charting pattern that looks like a flag on a flagpole and suggests a continuation of the current trend. Flags are areas of tight consolidation after a sharp movement in price and typically consist of between five and 20 price bars. The bottom of the flag should not be lower than the midpoint of the flagpole that preceded it.