There has been no New Year recovery for the IeC Boom/Gloom Index. It (blue column) slipped again last month, and is now back at September's level. A further fall in February would take it close to the levels seen before the dramatic rally in financial markets that began last March.
Equally, the Green Shoots spotted by US Fed Chairman Ben Bernanke last March, which sparked the rally, have now disappeared from view. Whilst the Frugal Index (red) has shown a small increase.