As I stated in my July 12, 2010 post (“ECRI WLI Growth History“):
For a variety of reasons, I am not as enamored with ECRI’s WLI and WLI Growth measures as many are.
However, I do think the measures are important and deserve close monitoring and scrutiny.
The movement of the ECRI WLI and WLI, Gr. is particularly notable at this time, as ECRI publicly announced on September 30 that the U.S. was “tipping into recession,” and have reaffirmed that view recently, such as on February 24. I featured excerpts from their September 30 statement in the October 3 post (“ECRI Recession Statement Of September 30 – Notable Excerpts“)
Below is a long-term chart, on a weekly basis through March 9, of the ECRI WLI (defined at ECRI’s glossary) from Doug Short’s blog post of March 9 titled “ECRI’s Weekly Leading Index Improves (Slightly) Yet Again” :
(click on charts to enlarge images)
This next chart depicts, on a long-term basis, the WLI, Gr. through March 9:
I post various indicators and indices because I believe they should be carefully monitored. However, as those familiar with this blog are aware, I do not necessarily agree with what they depict or imply.
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1370.87 as this post is written