We’ve been beating a dead horse on the theme of slowing growth for some time now. I’ve even brought up the word Recession a few times. There are many reasons for our thoughts that growth fears will be at the forefront of the next few months, but today’s chart illustrates another reason.
First off, I wouldn’t put too much credence into today’s chart as it’s a very small indicator. But it’s a light-hearted chart for a summer Friday. Courtesy of Business Insider this morning, it shows the Waste Carloads on American Railroads vs. U.S. GDP over the past 5 years:
It’s had the steepest drop off since 2008, though I’ve never looked at this indicator before, so I’d take it with a grain of salt.
You can tell that I’m feeling chagrined about the market when I have to pull out the Garbage Indicator as the Chart of the Day. As frustrating as it is, most of the indicators that I look at still signal lower prices ahead, so I’m sticking with my guns on the long put spread positions.