Paint Job...............from Rico

If you 'look' at the S&P 500 deflated by oil (either Brent or WTI) you can see through the "paint job" of a concerted 'market operation' by the FED and Treasury (painting the tape - a conscious effort to inflate asset prices) and understand that it is, and has been, in a serious nose-dive.

Can't be having any of that in an election year, so we have intentional 'confidence building' by making things appear better than they really are.
- This is false HOPE and an illusion without substance (just as all Government statistics and accounting manipulations have become unreliable and untrustworthy).