The Daily Leading Index finished the week at 9.16% and the Daily Coincident Index is at 3.54%.
Below are charts of four of the economic releases from last week. They were all either neutral or positive.
The S&P 500 continued its rally and entered the overbought territory for the first time since last July. Barclay's Aggregate Bond Index dived last week and has entered the oversold territory for the first time since last October. Below are six month charts of both indices. The red (or green) area indicates 2-3 standard deviations above (or below) the normal 21 day trading range. The gray area indicates 1-2 standard deviations above (or below) the normal 21 day trading range.
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Furthermore, these charts have limitations. Economic data is often revised after the fact. The market is forward looking and anticipates future events. The unexpected can and will happen. The market is continually changing. The conditions of the past are different from the present. Past performance is not an indication of future performance.
