From Streettalk Daily X-Change January 18, 2013 - 5:29pm
NOTICE: Stay tuned on Monday for the release of an all new Housing Index. The story of the housing recovery has gained a lot of attention as of late. This new housing index brings the entire housing process, from permits to sales, into one clearly defined chart.
The market has been rallying over the last few weeks as the bulls have definitely taken charge in the New Year. Most of the recent analysis has pointed to signs of an improving economy and stronger employment as the driving force behind the advance. My view has clearly been that it has been the impact of the Fed's liquidity injections pushing asset prices higher.
The charts of the day show two different aspects of the current economic environment from output to employment.
The first chart is my economic output composite index. This index is comprised of the Chicago Fed National Activity Report, ISM Composite Ind...