The labor report showed the US economy added 273,000 jobs. Few care as long as the majority is focusing on headlines of fear and uncertainty. The Economic Activity Composite, a leading economic time series more sensitive to change than the jobs number, is up ticking but still below 0%. It will be interesting to see if the majority's fears about the COVID19 are confirmed by the EAC. I have no opinion, it either happens or it doesn't. It's likely that another down leg in the stock market will require LTCO to remain below 0% for most of 2020.
EAC ITCO & LTCO
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