The following chart shows the natural log of annual light auto sales divided by civilian employment. I'm using a natural log so that constant exponential growth (or in this case decay) can be seen as a straight line.
Click to enlarge.
Behold the two trend channel failures. The first was a massive failure to the downside and the next was a massive failure to the upside. Slow and steady recovery my @$$.
And on that note, I'll leave the exact date of the next auto industry bailout as an exercise for the reader. Sigh.
This is not investment advice.
Source Data:
St. Louis Fed: Custom Chart
NAR: Pending Home Sales Increase 3.4% in March; Up 0.1% Year-over-year
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From the NAR: Pending Home Sales Ascended 3.4% in March
*Pending home sales in March climbed 3.4%*, according to the National
Association of REALTORS®. The...
3 hours ago
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