![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjFbWv1z8xdl3jXVtygvHkAzrabCSZfFVI17tx-Rv_bc6fpoqMuC01Tg2uEhEqB5NEFoq2quy6UZbQ9IgtsyWyLuyV90Vs9bFBaJDqRD7xhqZMqGZutPqVKkLoerKXHP7Ex7JK2/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 leading index is strongly influenced by stocks (i.e. the inclusion of the S&P 500 as one of the leading indicators) and the pronounced “V”-shaped bounce coming directly on the back of such a dramatic period of decline appears suspicious.
Could we be headed into a second dip (… similar to mid-1981) as the government’s Keynesian chicanery shows itself to have only propped demand but failed to encourage real “organic” demand?
Only time will tell…
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDP-8n43KbSAwo-9TnMtw6xTZfMlgSjfIfOswSlxN9vTE9mXpht6e4MYTof_0r7Cw5yPWAmiEJ_l7xHQQauLZ8Lgfi9iWqmm-D1ElhSTfNxfcgg94V4aelUchmLe9qIMDkgMcS/s400/ilei0809index.jpg)