ICSA Initial Claims plotted against ES1 as recession predictor
This is not an original idea. I applied a fibonacci-level pitchfan to the ICSA chart and found that the ES1 adheres in some interesting ways to the ICSA fan levels. Also, I added a trendline along the ICSA's peaks and noticed that the ES1 chart is currently bouncing between the ICSA's upper trendline and it's upper .382 fib level.
I'm not throwing an analysis here, just some observations. Maybe someone more savvy will read more in these tea leaves.
I'm not throwing an analysis here, just some observations. Maybe someone more savvy will read more in these tea leaves.
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