Finding a Meritorious Stock Market Leading Indicator
As a proponent of fundamental analysis, I don't usually dabble too much in technical signals. I think that Elliot waves are pretty interest and I do find the idea of leading indicators a useful concept.
I was speaking to a steel man the other day, well I was on the receiving end of a rant from a steel man about how the prices were in the toilet and how they had to lay people off, etc. Being a curious person I pulled a chart to see what steel prices looked like. It was interesting enough to compare to the S&P over a similar time frame.
Maybe you'll find it interesting too.
Steel price chart: http://steelbenchmarker.com/files/history.pdf
S&P500 Chart: Google Finance
