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...
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UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. March 21 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. March 30 ~ U.S. markets closed for Good Friday Holiday
* Fri. April 6 @ 8:30 am ET ~ Employment Data
* Wed. April 11 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. April 11 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. April 18 @ 2:00 pm ET ~ Beige Book Report
* Wed. May 2 @ 2:00 pm ET ~ FOMC Announcement
*** Click here for link to Economic Calendars for all upcoming events