Below is a chart and excerpt from today's Early Look written by CEO Keith McCullough. 

Did you know that INVENTORIES in yesterday’s US ISM report were the highest in 38 years? That happened in 1984 too.

While Macro Tourists, CNBC pundits, etc. were panic-buying at yesterday’s intraday-lower-cycle-highs, my teammates and I were reading the numbers in what was easily one of the worst ROC US ISM Manufacturing reports in the last 50 years.

CHART OF THE DAY: ISM New Orders  - ismm