As I stated in my July 12, 2010 post ("ECRI WLI Growth History"):
For a variety of reasons, I am not as enamored with ECRI’s WLI and WLI Growth measures as many are.
However, I do think the measures are important and deserve close monitoring and scrutiny.
The movement of the ECRI WLI and WLI, Gr. is particularly notable at this time, as ECRI publicly announced on September 30 that the U.S. was "tipping into recession." I featured excerpts from their statement in the October 3 post ("ECRI Recession Statement Of September 30 – Notable Excerpts")
Below is a long-term chart, on a weekly basis through January 13, of the ECRI WLI (defined at ECRI's glossary) from Doug Short’s blog post of January 13 titled “ECRI Recession Call: Growth Index Contracts Further” :
(click on charts to enlarge images)
This next chart depicts, on a long-term basis, the WLI, Gr. through January 13:
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1289.09 as this post is written