Chicago Fed National Activity Index (CFNAI) vs Stocks

The Chicago Fed National Activity Index (CFNAI) is a diffusion indicator that reflects the current and future course of U.S. economic activity. Today's down tick in the CFNAI has its smoothed average playing with the up trend established in 2009. Up trend breaks reflect economic deceleration and tend to coincide with stock market pauses or declines. The 2002 and 2009 up trends are highlighted by the yellow boxes for comparison.

Chicago Fed National Activity Index (CNFAI) and S&P 500 Average


Source: chicagofed.org