Market Signals Summary:
The CAPE-Cycle-ID has reentered the stock markets, also the MAC-US, the S&P 500 Coppock Indicator are invested the Stock Market. The 3-mo Hi-Lo Index of the S&P 500 exited the markets in the first week of September. The iM-Google Trend Timer enters the stock markets beginning September 2023.The BCI is no longer warning of a recession; the Forward Rate Ratio between the 2 and 10 year rates inverted beginning August 2022; and the growth of the Conference Board’s Leading Economic Indicator is signalling a recession since November 2022. The Gold Coppock is invested in gold, so is the iM-Gold Timer. The Silver Coppock model is invested in silver.
Stock-markets:
The MAC-US model invested the US stock markets in first week of February 2023.
The 3-mo Hi-Lo Index Index of the S&P500 is at -10.482% (last week -12.82%), exited the markets on September 7.
The Coppock indicator for the S&P500 entered the the US stock markets in the first week February 2023. This indicator is described here.
The MAC-AU model generated a sell signal end mid October 2022, and is disinvested from the Australian stock market.
This model and its application is described in MAC-Australia: A Moving Average Crossover System for Superannuation Asset Allocations.
Recession:
BCIg is not signaling a recession.
The growth of the Conference Board’s Leading Economic Indicator after the August 18, 2022 update signals a recession. The November 18, 2022 update of the Leading Economic Indicator (LEI) is signaling that the US economy is/will soon be in a recession.
The Forward Rate Ratio between the 2-year and 10-year U.S. Treasury yields (FRR2-10) inverted beginning August 2022 and is signalling a recession — the average lead time of this signal is 14 months.
A description of this indicator can be found here.
The iM-Low Frequency Timer switched to bonds on 9/26/2022.
A description of this indicator can be found here.