![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhbhyphenhypheneW84JU3dDkcyr8NK9WOeK2-N2Citq0KG1TeuQesmflFh04jp8yXapq87F2n5lgZjSLf0200KCfC7nOWNn4-QEcTW96kS3I9Uhb5tBUJJEMJBVTflYbVN0a81Ure2rL38Z-/s400/followleader.jpg)
On the face of it this is clearly a Bullish “Green Shoots” development as this series (an aggregate of 10 component leading indices) is signaling a clear shift from leading contraction to expansion though the strong “V”-shaped bounce is clearly reflecting the large move up in stocks recently as well as a six month surge in M2 (both components).