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SPY And U.S. Economic Index Move In Sync For Third Straight Month

The SPDR S&P 500 Trust ETF (SPY) and my U.S. Economic Index both headed south in January for the second straight month, but, as was the case in December, the magnitudes of their moves were quite different. SPY's (quarterly) adjusted closing monthly share price slid to $199.45 from $205.54, a decline of -$6.09, or -2.96 percent, while the USEI's (annually) adjusted level slipped to 56.31 from 56.33, a decline of -0.02 points, or -0.03 percent.

Combining Institute for Supply Management manufacturing and nonmanufacturing figures with a special sauce, I assembled the USEI in an effort to capture all American economic activity in a single monthly number I can employ in guiding my investing and trading, as I mentioned when introducing the metric at J.J.'s Risky Business.

Readers with an interest in my articles about the SPY-USEI relationship published during the past year are probably aware the SPY data series… Read More …