ISM Manufacturing Index

ISM

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MAN_PMI

SPX yoy performance follows ISM Source: Raoul Pal youtu.be

ISM Manufacturing Index...> 55..Short bias..& Growing..predict Inflation..

US ISM Manufacturing Purchasing Managers Index (PMI)

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ISM decline in recent months indicate more SPX weakness is ahead

US PMI Purchasing Managers Index

The manufacturing index still looks like it will have a steady positive correlation and increase over time. The potential for pro-longed growth is especially true given that we live in the age of additive and automated manufacturing. Even when it was negative correlated a year ago, it still ended up recouping any negatives. The index as an indicator of the economy...

The ISM index and unemployment growth rates show negative correlation while ISM shows positive with monthly Shiller P/E10 Ratios across S&P 500. Why would price multiples on equities rise if manufacturing doesn't rise, if GDP growth doesn't rise? Deviation of ISM and P/E10 trendline signals point in credit cycle and overvalued equity.

ISM PMI vs US dollar index, tend to negative correlated