Chicago Fed Index

The national activity index published by the Chicago Federal Reserve was -0.22 up from the previous -.28.

This index is a weighted average of 85 existing indicators of national economic activity.

This week has potential for massive volatility.  Wednesday is supposed to be the day by which the Eurozone debt settmelent thing is announced.  I would offer the opinion that when it is announced no one will know what the consequences will be. That will not keep the airheads in the media from offering their opinions. Thursday is 3rdQ2011 GDP and  is expected to be about +2.5%.  The best leading indicator I use is from Consumer Metrics which saw this uptick in June.  The probles is that those gains do not seem be be continuing into 4thQ.