Here you are. A lovely chart.
Let me break this down and explain the meaning of this.
The top chart show the OECD's composite leading indicator for the USA.
Broadly speaking, this an index which tracks economic activity within the USA. It's designed to be a forward looking indicator for the health of the United States'...
Okay so this is a mess and I will break it down now.
First of all, I've long been arguing that the SPX is following a rising wegge which happens to intersect with a megaphone type shape.
This presents a trend of long-term lower-lows juxtaposed with long-term higher highs since roughly 2018.
The megaphone pattern itself...