COVID-19 UPDATE: Daily cases flat vs 7D ago = good. VIX at cycle low = good. Credit card spend follows national case trends, not local

Daily cases in the US peaked on 7/17 at 76,737 and in the intervening 5 days, we have not made a new high.  Yesterday's daily cases was 69,293, basically flat with cases on 7/15/2020, or 7D ago.  So, we are continuing the pattern of flattish cases vs 7D ago.  The key date, therefore, is 7/24, or Friday.  Because we will be "lapping" that 7/17 high.  The chart below shows the daily cases compared to 7D ago.  And as the chart below highlights, the 7D delta has been f...

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