Today's lousy market news, the weekly ECRI Leading Indicators Index dropped to -8.3%. Keep in mind that every time this Index has hit the negative double digits or below, we have had a recession follow 100% of the time. At the worst parts of the most recent crisis, the index hit a low of -29.7 in December 2008. It then rocketed upwards to +28.4% last October as stimulus was fed in to stoke the fires. It has dropped like a rock in the last 3 months. The odds of a second recession, or more accurately the second leg of the depression, are close to 100% now.
Naturally, stocks closed up for the day and 5%+ for the week on virtually no volume. It's the eerie calm before the sky turns green and the F5 tornado drops out of the sky.
Assume the position, folks.
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