If The Shoe FITZ

Techamentals: US ESI rolling over again

The Citi US ESI (Economic surprise Index) is rolling over again and is now back down to minus 22.4 (just above the recent low at minus 23.79 and the Jan 2023 low at minus 24.69.

 
If it moves below these levels then the Head and shoulders target of testing and possibly even breaking the June 2022 low at minus 78.69 comes into play.
 
(I started using Techamentals - Technical look at fundamental data and sentiment data during the GFC - looking only at data that trends in that respect- no Retail sales or Durable goods for example. Inflation/employment/ Housing/ Small business and Confidence data are the ones most widely focused on.
 
While I know many will be very sceptical of this "Techamental" approach it has served us very well during the GFC and beyond)
 

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Tom Fitzpatrick

Tom Fitzpatrick

Tom Fitzpatrick, now the Managing Director of Global Market Insights at R.J. O'Brien, offers an impressive background. Originating from Ireland, his journey began at Chase Bank of Ireland, evolving through pivotal roles in foreign exchange (FX) at HSBC and Nedbank. His expertise expanded at Citibank in various global positions, culminating as Managing Director and Global Head of the CitiFXTechnicals product, delivering award-winning analysis across multiple asset classes.
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