One chart shows how Main Street feels blue as Wall Street hits record highs

• A chart from Bank of America Research analysts how the S&P 500 is booming.
• It also shows a stark disconnect from the rest of the economy.
• While the economy is projected to grow, unemployment is likely to stay high.

$4 predicts a correction for the stock market - and also showcases the disconnect between Wall Street and the rest of the economy.

In a chart, BofA researchers show how as the S&P 500 has climbed to record highs, Main Street indicators have in most cases stayed far below pre-pandemic levels.

In December, $4, although it saw some improvement in January. On the other hand, the Present Situation Index - "based on consumers' assessment of current business and labor market conditions" - fell further in January, $4.

The Small Business Optimism Index, which gauges the state of small business based off 10 key indicators, also dropped in January, $4.

A rebounding economy, but not employment

Projections from the nonpartisan Congressional Budget Office (CBO) saw the country's GDP returning to pre-pandemic levels in mid-2021, $4.

But the CBO didn't see such a rosy picture for unemployment. $4.

Notably, the CBO projections don't factor in any additional stimulus relief, including the $1.9 trillion relief package currently being negotiated. David Kelly, the chief global strategist at JPMorgan Funds, $4 could include bringing the unemployment rate below 5% by the end of the year.

It's another entry in the story of America's uneven pandemic recovery, where millions - $4 - $4 as concern grows that markets are in a a bubble. In fact, $4, DataTrek cofounder Nicholas Colas said in a note on Wednesday.

Wall Street and Main Street are still "$4," as Insider reported in late 2020 - and that could just send stocks higher.