Is the ECRI Weekly Leading Economic Indicator Turning Up?
Kevin Depew Some talk has been making the rounds about the Economic Cycle Research Institute’s weekly leading economic indicator. It recently fell to levels that are normally associated with severe downturns. Fair enough. But here’s the thing: when stuff goes down, it doesn’t make any sense, to me at least, to project that it’s going to go down more, which is precisely what people who follow financial markets seemed trained to do. Wheat is a perfect example of this — but that’s another story entirely. Anyway, below is the ECRI weekly leading economic indicator with DeMark TD Sequential overlaid. I guess it looks bad, but to me when things look bad, we should start thinking about the coming days when they’ll suddenly look better. Click to enlarge Browsing NFLX Smita Sadana Netflix (NFLX) has taken a recent hit. But can it offer a counter-trend long trade? It hasn’t witnessed a relief-bounce since the earnings were released in the middle of July. This morning the sellers tried to take i
