Early Warning Indicators

(1) There’s always something to worry about. (2) Clear and present danger is currently in Iraq. (3) Watching oil prices and commodity prices for hints of more trouble. (4) No distress signal yet. (5) A good sign: S&P 500 Energy stocks outperforming. (6) S&P 500 remains resilient, along with Transportation stocks. (7) Global oil demand at another record high, but growth is slow. (8) Crude oil demand falling in Europe and Japan, flattening in China, rising in India and Latin America. (9) Non-OPEC output at record high led by North American producers. (10) Can we manage without Iraq?