Invictus at The Big Picture on the "best economic gauge you've never heard of":
The MA3 [the three-month moving average of the Chicago Fed’s National Activity Index] has stalled since hitting -0.54 in September, recording -0.76, -0.68, and now -0.61 since then. We’ve gotten the bungee bounce off the economic and market lows of almost one year ago. The question now — as I’ve been opining for quite some time — is to sustainability. We’re clearly faltering, with nary a green shoot in sight (witness the just-released Durable Goods orders and weekly Unemployment Claims, which were both weaker than expected). Lots of interesting numbers coming out over the next week, culminating with Friday’s jobs report.