QQQ - Weekly Indicators: High-Frequency Indicators Still Positive After Weak Monthly Data Points

2024-06-22 08:00:00 ET

Summary

• Weekly indicators provide a good "nowcast" of the economy and can signal changes before monthly or quarterly data is available.
• Data is presented in a factual format to minimize bias, including 12-month highs and lows where relevant.
• All timeframes remained constant this week, with long leading indicators still negative, but short leading and coincident indicators positive.

Purpose

I look at the high frequency weekly indicators because while they can be very noisy, they provide a good "nowcast" of the economy, and will telegraph the maintenance or change in the economy well before monthly or quarterly data is available. They are also an excellent way to "mark your beliefs to market." In general, I go in order of long leading indicators, then short leading indicators, then coincident indicators.

A Note on Methodology

Data is presented in a "just the facts, ma'am" format with a minimum of commentary so that bias is minimized.

Where relevant, I include 12-month highs and lows in the data in parentheses to the right. All data taken from St. Louis FRED unless otherwise linked....

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