“A sharp drop in new orders (58.8 from 63.6) led to an overall pullback in manufacturing activities…The Chicago PMI has little overall economic value, and is only watched by the financial markets because it is usually released one day in advance of the similar national ISM manufacturing survey.” Summary and charts at…
As the below chart shows, until a few days ago, the trend in breadth over the last 100-days was down while the S&P 500 has been nearly flat. That “divergence” is usually a cause for significant concern. The majority usually wins and if most stocks on the NYSE are going down, the S&P 500 will follow. Recently, though, the percent of stocks advancing has broken up as more stocks have been advancing. That is evident at the far right of the red graph where the trend has broken to the upside of the former red trend line.
I have this to say: Who drinks diet drinks? Fat people! Who is at risk for heart disease and high-blood pressure? Fat people! Who is wasting my time with stupid analysis? NBC who reported this in a misleading and incompetent manner. Comment by Christophe: “New study shows 100% of people born before 1850 have in fact died. While scientists are certain about the risks associated with being born a very, very long time ago, they are uncertain as to whether or not diet soda would have saved these people’s lives.”