Powell football helmet meme

Happy Monday.

I don't watch football but it's a major hangover day in the US because of the Superbowl yesterday. Thankfully for those who were up late for (what sounds like) a pretty good game, the US economic calendar is whisper quiet today. There is no data or central banks speeches whatsoever and something tells me that's not a coincidence.

As for the Super Bowl indicator, the Kansas City Chief won and they're an AFC team so that predicts a bear market in the year ahead. As of the end of 2022, the indicator has been correct about the S&P 500 on 41 out of 56 occasions. Of course, if you believe that kind of thing, you won't last long in markets. For instance, the NFC's LA Rams won the Super Bowl last year and the S&P 500 fell nearly 20%.