Saturday Bullish Percents
Disclaimer: All charts and comments are intended for education and discussion purposes only. No investment recommendations are being offered. Please do your own research and take responsibility for all investment decisions that you make. Questions and comments related to this post are encouraged. | MON - Sector Strength | TUE - Interest Rates | WED - Market Breadth | THU - Commodities & Currencies | FRI - Market Sentiment | SAT - Bullish Percents | About | contact: HeadlineCharts@gmail.com |
ECRI Recession Watch
The ECRI leading economic index is clearly diverging from the coincident index. But these are smoothed averages, and for the last three weeks the leading index has ticked lower, probably due to sky high oil and gasoline. I think the economy was well on its way to a weak rebound on the back of strong exports, but probably has now stalled. However, its too early to know for sure. The ECRI future infation gauge remains contained despite the high energy costs.
The bullish percents showed very little movement this week. I'm not seeing much in these indicators except a market trapped between equally powerful bullish and bearish influences. For now, the market is stuck in a range.
The CRB bp corrected down from the 70-level to the 50's, and I expect even lower numbers in the weeks ahead. That will be the opportunity to fill out commodity ETF positions again.
