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Aug 07 2025

Inoculation Looks Up-To-Date

  • Aug 7, 2025

Nine of ten components in the LEI are signaling there’s trouble dead ahead. Yet, the 12-month momentum of the sole outlier, the S&P 500, still looks sufficient to forestall an imminent slide into recession. Additionally, the index’s short-term strength also supports the argument that SPX is “too strong.”

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About The Author

Doug Ramsey / Chief Investment Officer & Portfolio Manager