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Lighthouse Macro

The Chartbook - November 23, 2025

The Divergence Widens

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Lighthouse Macro and Bob Sheehan, CFA, CMT
Nov 23, 2025
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Equities sit near record highs while leading indicators continue their steep decline. The divergence is widening, not narrowing.

This week’s Chartbook documents the divergence and what breaks first.

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