Global Macro Perspectives
(Week Ending August 13, 2010) ECRI Weekly Leading Index for week ending August 13 was reported down 10.0%. Prior reading was revised from -9.8% to -10.2%. Contrary to Conference Board LEI, ECRI Weakly Leading Index is pointing to a recession. Chart 1. ECRI Weekly Leading Index
Continuing with Hindenburg Omen story. Apparently it got confirmed yesterday. Zero Hedge post: Hindenburg Omen Confirmation #1. Today we got our first Hindenburg Omen confirmation. The number of new highs was 136, and new lows was at 69 (per the traditional WSJ source). Granted this particular criteria set was a little weak as the 69 […]
Working gas in storage rose 27 Bcf from previous week. Consensus was at 31 Bcf. Additions to storage are slowing down and the total storage is getting more and more closer to the pre-crisis averages. Very, very interesting… Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average Chart 3. […]