Hey trader, would you happen to have a 10 year chart of the US stock market handy?
By the way, you do know the difference between the ISM and real output, right?
Attached below is a chart breaking down the components of the ISM:
MANUFACTURING AT A GLANCE
SEPTEMBER 2019
Index Series Index Sep Series Index Aug Percentage Point Change Direction Rate of Change Trend* (Months)
PMI® 47.8 49.1 -1.3 Contracting Faster 2
New Orders 47.3 47.2 +0.1 Contracting Slower 2
Production 47.3 49.5 -2.2 Contracting Faster 2
Employment 46.3 47.4 -1.1 Contracting Faster 2
Supplier Deliveries 51.1 51.4 -0.3 Slowing Slower 43
Inventories 46.9 49.9 -3.0 Contracting Faster 4
Customers' Inventories 45.5 44.9 +0.6 Too Low Slower 36
Prices 49.7 46.0 +3.7 Decreasing Slower 4
Backlog of Orders 45.1 46.3 -1.2 Contracting Faster 5
New Export Orders 41.0 43.3 -2.3 Contracting Faster 3
Imports 48.1 46.0 +2.1 Contracting Slower 3
OVERALL ECONOMY Growing Slower 125
Manufacturing Sector Contracting Faster 2
Are you still short the market, trader?
