Forecasting Economic Movements: Leading Indicators vs. Others

During an economic analysis for an asset management firm, analysts are tasked with forecasting the short-term performance of equities using various economic indicators. They utilize a combination of leading, lagging, and coincident indicators to build a comprehensive economic outlook.

Among these indicators, one is particularly known for its capacity to predict turning points in the economy before the overall economy begins to follow the same trend. Which type of indicator would be best for creating forecasts to anticipate equity market movements?