Leading Indicators

From the NYT:

The Conference Board reported yesterday that only one of the 10 components of the leading index, stock prices, increased in May. The other components that dragged down the index included building permits, vendors' performances, the index of consumer expectations, manufacturers' new orders for nonmilitary capital goods, consumer goods and materials and average weekly initial claims for unemployment insurance.

I am not sure if the stock market's contrary move represents vision or the lack of it.