Survivor fans may think Parvati but this is a bit more serious. The government released data saying that 14% of Americans live below the poverty line. That's $22K per year for a family of four. Who spends that at Starbucks?
It is an believable stat but what did Wall Street do? Why rally, of course.
I may be a technical guy but if 14% of the country has fallen below the line then there might not be enough consumers to go around to keep things humming.
The technician in me says to trade what is happening in the market and not what is happening outside the market. Very well. But I can't help think that the inevitable decline - when investors wake up - is going to be a killer.