Charting Last Week (3/25/19 - 3/29/19)

The North Star GDP Estimate for the fourth quarter is 2.17% year over year growth (-1.00% QoQ). The North Star GDP Forecast for the first quarter of 2019 is at 1.88% year over year growth (-2.06% QoQ) unchanged from last week. The GDP Forecast page on the tab above is updated periodically during the week.

The S&P 500 (SPY) was up 13.53% in the first quarter, the best quarter since 2009. The Fed Funds futures are now implying a 66.3% chance that the Fed will cut rates in 2019 (up from 57.5% last week) according to CME Group's FedWatch tool. 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.

The Leading Indicator for International Developed Markets (EFA) increased by 0.01% percentage points to -0.72%. The Leading Indicator for International Emerging Markets (EEM) is at 3.52%. 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.

Charting Last Week (3/18/19 - 3/22/19)

The North Star GDP Estimate for the fourth quarter is 2.06% year over year growth (-1.39% QoQ). The North Star GDP Forecast for the first quarter of 2019 is at 1.88% year over year growth (-2.46% QoQ) up from 1.87% last week. The GDP Forecast page on the tab above is updated periodically during the week.

The S&P 500 (SPY) hit new highs for 2019 on Thursday before falling on Friday ending down 0.73% for the week. The Fed Funds futures are now implying a 57.5% chance that the Fed will cut rates in 2019 (up from 27.7% last week) according to CME Group's FedWatch tool. 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.

The Leading Indicator for International Developed Markets (EFA) decreased by 0.12% percentage points to -0.73%. The Leading Indicator for International Emerging Markets (EEM) is at 3.37%. 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.

Charting Last Week (3/11/19 - 3/15/19)

The North Star GDP Estimate for the fourth quarter is 2.06% year over year growth (-1.40% QoQ). The North Star GDP Forecast for the first quarter of 2019 is at 1.87% year over year growth (-2.48% QoQ) up from 1.79% last week. The GDP Forecast page on the tab above is updated periodically during the week.

It was a positive week for both stocks and bonds. The S&P 500 (SPY) was up 2.95% for the week. The Fed Funds futures are now implying a 27.7% chance that the Fed will cut rates in 2019 (up from 19.8% last week) according to CME Group's FedWatch tool. 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.

The Leading Indicator for International Developed Markets (EFA) decreased by 0.46% percentage points to -0.61%. The Leading Indicator for International Emerging Markets (EEM) is at 3.42%. 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.

International Leading Indicators - March 2019

The Leading Indicator for International Developed Markets (EFA) is at -0.37% and is 0.17% percentage points lower than last month. The Leading Indicator for International Emerging Markets (EEM) is at 3.42%.

The OECD released their Leading Indicators for most major countries on Monday. 11 of the 20 countries in the Developed Markets had increasing Leading Indices. The Leading Indices increased for 9 out of 15 countries in the Emerging Markets. When available, I have averaged the indicators with the Conference Board's Leading indicators to create a composite for each country. I created Leading Indicators for International Developed Markets (EFA) and International Emerging Markets (EEM) by weighting each country's growth rate by the market share of each country's stocks in the respective funds. On the last chart below, you can click on the blue and red buttons to see the Leading Indicator growth rate and an ETF for various countries.

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.

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.

Charting Last Week (3/4/19 - 3/8/19)

The North Star GDP Estimate for the fourth quarter is 2.02% year over year growth (-1.54% QoQ). The North Star GDP Forecast for the first quarter of 2019 is at 1.79% year over year growth (-2.81% QoQ) up from 1.63% last week. The GDP Forecast page on the tab above is updated periodically during the week.

The S&P 500 (SPY) was down 2.13% for the week while bond prices were up. Global growth and U.S. China trade worries resurfaced. The Fed Funds futures are now implying a 19.8% chance that the Fed will cut rates in 2019 (up from 0.0% last week) according to CME Group's FedWatch tool. 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.

The Leading Indicator for International Developed Markets (EFA) is at -0.15%. The Leading Indicator for International Emerging Markets (EEM) increased by 0.20% percentage points to 3.30%. 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.

Charting Last Week (2/25/19 - 3/1/19)

The North Star GDP Estimate for the fourth quarter is 2.14% year over year growth (1.78% QoQ). The North Star GDP Forecast for the first quarter of 2019 is at 1.76% year over year growth (0.69% QoQ) up from 1.63% last week. The GDP Forecast page on the tab above is updated periodically during the week.

Stocks were mixed while bond prices were mostly down for the week. The Fed Funds futures are now implying only a 8.8% chance that the Fed will raise rates in 2019 (up from 3.3% last week) according to CME Group's FedWatch tool. 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.

There were not any updates to the International Leading Indices during the week. The Leading Indicator for International Developed Markets (EFA) is at -0.15%. The Leading Indicator for International Emerging Markets (EEM) is at 3.11%. 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.