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Today's Economic Data Docket - Two Circular Indicators: Consumer Sentiment And Leading Indicators

Tyler Durden's picture




 

Today we get two very circular resonance amplifiers in the form of Consumer Sentiment and the Index of Leading Indicators. When markets go up, these go up, pushing the market higher. When the market goes down, these go down, and push the market lower. In other words, the only relevant thing, correlating at 1.000 and leading the market, will once again be the EURUSD which is the only chart one needs these days, while one can trace the critical fate of Greek bank deposits by looking at the EURCHF.
 
10:00 (9:55 to subscribers): Reuters/University of Michigan consumer sentiment (June Prelim)
: Stable? Forecasters are looking for this index to remain about unchanged at 74.0 after increasing in May. In the May survey, the measure of 5-10yr inflation expectations was 2.9%--close to its average over the last ten years.
Median forecast (of 67): 74.0; last 74.3 (May final).
 
10:00: Index of leading indicators (May): Based on available components, the index of leading economic indicators looks likely to have increased by about 0.3% (mom) in May. We see positive contributions from higher consumer sentiment, lower jobless claims and the steep slope of the yield curve. These should be partially offset by a drag from the decline in the ISM vendor performance index.
Median forecast (of 51): +0.3%; last -0.3%.

11:00:$4-5 Billion POMO targetting 06/30/2015 - 11/30/2016. After this there are just 8 more days of open market monetizations.

 

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Fri, 06/17/2011 - 07:54 | 1377030 hamurobby
hamurobby's picture

In other words, the only relevant thing, correlating at 1.000 and leading the market, will once again be the EURUSD which is the only chart one needs these days.

 

Its so hard to see in here, cough cough, gasp.

I need to make a bigger donation to zh...

Fri, 06/17/2011 - 08:13 | 1377071 Cdad
Cdad's picture

Oh, I see....man, my thinking about this case has become very uptight.  

So Greece is fixed [past tense being well established by the BlowHorn] just in time for me to exit my dumbass criminal syndicate upside calls...prior to the release of "stable" indicators, which will be followed by an instance of money printing...which comes right before Greece isn't fixed anymore.

Got it.  

It's a good thing the market has the integrity of a colander.

Fri, 06/17/2011 - 08:38 | 1377128 Boilermaker
Boilermaker's picture

Irrelevant drivel.  The puppet masters have already determined that today will be an up day and at all costs.

Seriously, who even gives a shit about macro indicators or <gasp> fundamentals. 

It's all just theatre now.

Fri, 06/17/2011 - 09:03 | 1377205 mayhem_korner
mayhem_korner's picture

circular resonance amplifiers

Optometrist by day?

Gotta add this one to the vocabularies, it's a beauty.

Fri, 06/17/2011 - 09:14 | 1377218 PaperBear
PaperBear's picture

I heard that JPM/HSBC may have increased their short position in silver following the May 1st 2011 attack.

These guys really are suicide bankers since the COMEX is fast emptying of registered silver.

The 28MN oz of registered silver may only last 4-6 months and perhaps shorter the longer the price remains at $36/oz.

Fri, 06/17/2011 - 10:07 | 1377385 HITMAN56
HITMAN56's picture

re-name Leading Indicators? perhaps we can add it to zh vocab

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