OECD Composite Leading Indicator Turns Up
As the WSJ noted, the OECD Composite Leading Indicator is showing signs of stabilization. While it isn't particularly effective at timing market tops, upturns in the OECD Composite Leading Indicator after a long downturn usually marked bottoms in the global economy.
When the OECD Composite Leading Indicator turns up for the first time in more than 18 months, the S&P' returns over the next half year were mostly pristine since this typically happened after a recession.
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