U.S. Core CPI and JOLTS Job Openings (Leading Indicator) This chart suggests that JOLTS job openings leads U.S. core cpi by 12 months. Image: BCA Research

BofA Bull & Bear Indicator History The BofA bull & bear indicator is at 7.1 and suggests a neutral signal on stocks. Image: BofA Global Investment Strategy You may also like “BofA Bull & Bear Indicator.”

BofA Bull & Bear Indicator The BofA bull & bear indicator is neutral at 6.5 vs. 6.7 last week. Image: BofA Global Investment Strategy

Sentiment Indicator (SI) Are investors too bullish? The sentiment indicator is above average at 1.7 standard deviations. Image: Goldman Sachs Global Investment Research

U.S. ISM Manufacturing Index vs. U.S. Core CPI (Core Inflation Leading Indicator) US annual core CPI in November stayed unchanged at 2.3%. This chart suggests that the U.S. ISM Manufacturing Index leads U.S. Core CPI by 24 months. You may also like “ISM Manufacturing Index vs. S&P 500 Index” and “U.S. Core Inflation Expected Over…

Wage Growth and U.S. Productivity (Leading Indicator) This chart suggests that wage growth tends to lead U.S. productivity by 21 months. Image: Pictet Asset Management

Sentiment Indicator and Stock Positioning Currently, the sentiment indicator is above average and back below one standard deviation. Image: Goldman Sachs Global Investment Research

DM Real GDP and WTI Crude Oil (Leading Indicator) Chart suggesting that the 18-month rate of change of WTI crude oil (inverted) tends to lead DM real GDP by 18 months. Image: Topdown Charts

U.S. Core Inflation Expected Over the Next 21 Months (Leading Indicator) This chart suggests that M2 velocity year-over-year leads U.S. core CPI by 21 months (R² = 0.61 since 1996).  It has been quite accurate for more than 20 years. Click the Image to Enlarge

Equity Positioning Indicators Equities positioning has continued to climb, as optimistic investors price in a global growth rebound. Image: Deutsche Bank Asset Allocation