There are economic indicators and then there is this from the last day in July in 2023: an index which tracks the price of luxury watches on the secondary market. Finance.yahoo.com led to a story by BusinessInsider (https://markets.businessinsider.com/news/stocks/rolex-recession-luxury-watch-market-prices-falling-fed-interest-rates-2023-7) entitled "The great Rolex recession is here: How the Fed crushed the luxury watch boom".
Some talking heads believe it augurs ill as it indicates the wealthy are so concerned that they aren't spending wildly. Others contend it is people coming to their senses. Still others think it is "flippers" who bought watches intending to resell them for more who have learned that not all investments go up.
And I? Well, given that I didn't even know that WatchCharts existed, I just find it amusing and look forward to erstwhile MBA students undercovering correlations with my favorite economic indicator, the Baltic Dry Index (BDI) (tradingeconomics.com/commodity/baltic).
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