Here's the weekly change in the Fed balance sheet against the weekly change in the Fed's balance sheet. To my eye they are still showing correlation. The bull case is the choppy market is lining up. The bear case is the Fed has been propping up the market and it's all downhill from here.
BEA: Real GDP increased at 1.6% Annualized Rate in Q1
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From the BEA: Gross Domestic Product, First Quarter 2024 (Advance Estimate)
Real gross domestic product (GDP) increased at an *annual rate of 1.6
percent ...
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