The blue line is the S&P 500. The red line is the inverse of initial jobless claims.
For over 5 years, they've moved in virtual lockstep, and they're doing it again. Lately the improvement on initial jobless claims has stalled out, and the rally in the S&P 500 has stalled out.
It alone is a good reason to think that fundamentals, not central banks, are what's driving this market.
Read more: http://www.businessinsider.com/sp-500-vs-initial-claims-2012-4#ixzz1s42Ox7DN
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