The economy and stock market move in sync over the long run. (bullmarkets.co)
And since the economy and stock market move in the same direction in the long run, Initial Claims is also a leading indicator for the stock market. (bullmarkets.co)
Japan «hit the wall» after experiencing a similar stock market move from 1972 when the Nikkei 225 was trading about 2000 until the end of 1989 when it reached over 39,000 (18 % compounded / year). (ritholtz.com)