Charting Last Week (11/10 - 11/14/14)

The Daily Leading Index increased by 0.11% percentage points to 7.05%. The Daily Coincident Index is at 3.87%. The Daily Leading Index page on the tab above is updated daily during the week.

The S&P 500 inched forward to close the week at a yet another new high. Bond prices were mostly down for the 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.

Earnings Season for the S&P 500 is coming to a close. With 94% of the S&P 500 reporting earnings for last quarter, as reported full year earnings are on pace to be up 12.8% year over year.

The Leading Indicator for International Developed Markets (EFA) fell to 0.47% and is 0.32% percentage points lower than last month continuing its steady nine month slide. The Leading Indicator for International Emerging Markets (EEM) rose to 4.43%. The OECD released their Leading Indicators for most major countries on Wednesday. 17 of the 20 countries in the Developed Markets had declining Leading Indices. The Leading Indices declined for 7 out of 15 countries in the Emerging Markets.

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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.