There Was One Huge Bullish Sign Buried In The ISM Report

Today’s ISM report was kind of meh, as it surpassed the November number, but wasn’t exactly lights out.

But there was on excellent sign: The gap between new orders and inventories is back to 9.1, after briefly falling into negative range, which has historically been a worrisome sign (negative number would indicate a troublesome inventory buildup). So on this major point, we’re still clear.

Chart and more analysis is via PragCap >

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