Sunday, February 22, 2015

Charting Last Week (2/17 - 2/20/15)

The Daily Leading Index increased by 0.66% percentage points to 5.89%. The Daily Coincident Index is at 4.44%. The Daily Leading Index page on the tab above is updated daily during the week.
Stock were up for the week while bond prices were mostly down. The S&P 500 is yet again in record territory closing above 2100 for the first time this week. The charts below show the normal trading ranges for various indices for the last six months. 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.
With 90% of the S&P 500 reporting earnings for last quarter, operating full year earnings are on pace to be up 2.9% year over year. This is down from 12.0% year over year growth last quarter. Operating full year earnings are down 2.7% compared to full year earnings last quarter. The slowdown in earnings is mainly due to the energy sector and the decline in oil prices.

The Leading Indicator for International Developed Markets (EFA) increased by 0.03% percentage points to 1.56% continuing a small two month recovery after falling steadily for ten months. The Leading Indicator for International Emerging Markets (EEM) fell to 2.74%. On the chart below, you can click on the blue and red buttons to see the Leading Indicator growth rate and an ETF for each country.
All information, data and analysis provided by this website is for informational purposes only and is not a recommendation to buy or sell any security.   Click here for more details.

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.