Leaders Of The Pack?

Well respected leading economic indicators are giving different predictions. Here is a good piece covering this. Good, at least up to this part:

As a technical analyst, I have a great respect for the discounting ability of the market, and I believe it knows more than you or I or Larry Kudlow or Marc Faber or all the indexes ever conceived or any perfect storm thereof.

That used to be the case. More recent work shows that the market no longer anticipates economic news, but reacts to it instead. Presumably that is an artifact of the electronic trading technologies that now dominate the market.

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