Leading Indicator

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0><tr> <td valign="top" colspan=2 height=82 style=" border-bottom: 3px solid #FF9900;" BGCOLOR="#006600" TEXT="#F7F7FF" bgproperties="fixed" background="7ce005521dwnpjk.jpg"> <div> <FONT SIZE="5" COLOR="#FFFFFF" FACE="Arial" ><B>InvestmentTools.com</B></FONT><FONT SIZE="2" COLOR="#000000" FACE="Arial" >  <style type="text/css">  </style> </FONT><FONT SIZE="2" COLOR="#CCCC99" FACE="Arial" > </FONT> |     <A HREF="http://www.investmenttools.com/" TARGET="_top" TITLE="http://www.investmenttools.com/">home</A></div> <div> <A HREF="http://www.investmenttools.com/the_home_of_investmenttools__the_com_tock_letter_and_tradingtools.htm" TARGET="_top" TITLE="http://www.investmenttools.com/the_home_"><B>About</B></A><B>   </B><A HREF="http://www.investmenttools.com/equities" TARGET="_top" TITLE="http://www.investmenttools.com/equities"><B>Equities</B></A><B>   </B><A HREF="http://www.investmenttools.com/futures" TARGET="_top" TITLE="http://www.investmenttools.com/futures"><B>Commodity/Futures</B></A><B>   </B><A HREF="index.htm" TARGET="_top" TITLE="The State"><B>The State</B></A><B>    </B><A HREF="http://www.investmenttools.com/bonds" TARGET="_top" TITLE="http://www.investmenttools.com/bonds"><B>Notes/Bonds</B></A><B>    </B><A HREF="http://www.investmenttools.com/editorials.htm" TARGET="_top" TITLE="http://www.investmenttools.com/editorial"><B>Editorials</B></A><B>      </B><A HREF="http://www.investmenttools.com/com_tock_letter.htm" TARGET="_top" TITLE="http://www.investmenttools.com/com_tock_"><B>Com$tock Letter</B></A><B>  </B><A HREF="http://www.investmenttools.com/welcome_to_the_links__page.htm" TARGET="_top" TITLE="http://www.investmenttools.com/welcome_t"><B>Links</B></A><B>    </B><A HREF="http://www.investmenttools.com/thefed" TARGET="_top" TITLE="http://www.investmenttools.com/thefed"><B>The Fed & Short Sales</B></A><B>    </B><A HREF="http://www.investmenttools.com/median_and_average_sales_prices_of_houses_sold_in_the_us.htm" TARGET="_top" TITLE="http://www.investmenttools.com/median_an"><B>Real Estate</B></A><B>     </B><A HREF="http://www.investmenttools.com/finacial_planning.htm" TARGET="_top" TITLE="http://www.investmenttools.com/finacial_"><B>Miscellaneous</B></A></div> <div> </div> </td> </tr><tr> <td valign="top" width=206 style="border-right: 4px solid #006600;" BGCOLOR="#FF9900" TEXT="#080000"> <div> <TABLE BORDER="2" CELLPADDING="2" CELLSPACING="1" WIDTH="144" BORDERCOLORLIGHT="#C0C0C0" BORDERCOLORDARK="#808080" FRAME="BOX" RULES="ALL" HSPACE="0" VSPACE="0" BGCOLOR=#FFFFFF > <tR> <tD VALIGN=TOP HEIGHT= 158 WIDTH="132"><div> <B>A good science fiction story should be able to predict not the automobile but the traffic jam.”</B></div> <bR> <div> <B>Frederik Pohl </B></div> </tD> </tR> </TABLE></div> <bR> </td> <td valign="top" height=398 width="100%" BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <B>Leading Indicator</B></div> <bR> <bR> <div> <TABLE BORDER="1" CELLPADDING="2" CELLSPACING="1" WIDTH="483" BORDERCOLORLIGHT="#C0C0C0" BORDERCOLORDARK="#808080" FRAME="VOID" RULES="ROWS" HSPACE="0" VSPACE="0" > <tR> <tD VALIGN=TOP HEIGHT= 20 WIDTH="288"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="20" ALIGN="bottom" WIDTH="288" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="184"><div> <A HREF="#notes___links" TITLE="Leading Indicator"><FONT COLOR="#0033FF"><B>Notes & Links</B></FONT></A></div> </tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 20 WIDTH="288"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="20" ALIGN="bottom" WIDTH="288" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP BGCOLOR=#DDDDDD WIDTH="184"><div> <A HREF="index.htm" TARGET="_top" TITLE="The State"><FONT COLOR="#003399"><B><IMG BORDER="0" SRC="Symb075c00b700f099330000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">More State</B></FONT></A></div> </tD> </tR> </TABLE></div> <div> U.S. Leading Economic Indicator YoY%</div> <div> use tabs to adjust time frame</div> <div> <TABLE BORDER="0" CELLPADDING="2" CELLSPACING="1" WIDTH="462" BORDERCOLORLIGHT="#C0C0C0" BORDERCOLORDARK="#808080" FRAME="VOID" RULES="NONE" HSPACE="0" VSPACE="0" > <tR> <tD VALIGN=TOP HEIGHT= 152 WIDTH="438"><div>  <iframe src="https://fred.stlouisfed.org/graph/graph-landing.php?g=tEHF&width=670&height=475" scrolling="no" frameborder="0"style="overflow:hidden; width:670px; height:525px;" allowTransparency="true" loading="lazy"></iframe>  </div> </tD> <tD VALIGN=TOP WIDTH="13"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="152" ALIGN="bottom" WIDTH="13" HSPACE="0" VSPACE="0"></tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 64 WIDTH="438"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="64" ALIGN="bottom" WIDTH="438" HSPACE="0" VSPACE="0"></tD> <tD VALIGN=TOP WIDTH="13"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="64" ALIGN="bottom" WIDTH="13" HSPACE="0" VSPACE="0"></tD> </tR> <tR> <tD VALIGN=TOP HEIGHT= 44 WIDTH="438"><div> <B>Notes & Links</B></div> </tD> <tD VALIGN=TOP><NOBR><div>  <A NAME="notes___links"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></div> </NOBR></tD> </tR> </TABLE></div> <bR> </td> </tr></table></body>