Data released today shows that the total number of new Factory Orders dropped to its lowest reading since March of 2007, as shown on the graph below.
This manufacturing data is not supportive of a sustainable rise in the equity markets; however, the markets seem to have their own agenda, regardless of the fundamentals of this sector within the slowing economy. A slowing demand for the "same old stuff" is just that...a slowing demand, regardless of how much money becomes available for borrowing by the masses. At some point, rising markets without supporting fundamentals, partnered with new, attractive, innovative, useful, and beneficial products/services with "needed and must-have" value, become a ship without a captain.
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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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* If the dots don't connect, gather more dots until they do...or, just follow the $$$...
Winter in City
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Feb. 1 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Feb. 3 @ 8:30 am ET - Employment Data
* Wed. Feb. 22, 2023 @ 2:00 pm ET - FOMC Meeting Minutes
* Wed. Mar. 8 @ 2:00 pm ET - Beige Book Report
* Wed. Mar. 22 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
*** CLICK HERE for link to Economic Calendars for all upcoming events.