Editor's Note: Below is a chart and brief excerpt from today's Early Look written by CEO Keith McCullough. Click here to learn more.
|
If the trade war is impacting the US in such a disastrous way, why did the USA’s ISM reading for AUG ramp to a new cycle high of 61.3 yesterday? Oh the cognitive dissonance of it all! That ISM report was a tough one if you’ve been calling for the ISM to “top” for the last 2-3 years. At the same time, it is hard to call it a “comeback” when New Orders have been running north of 60 for 16 consecutive months and for 19 of the last 20 (the best > 60 streak since 1973). Reminder: USA was in Quad 1 or 2 for a record 8 straight quarters in a row too. |
