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Empire Manufacturing Tumbles Most In 2 Years, Biggest Miss In 4 Months
Despite serial extrapolators expectation that last month's 4-year high Empire Manufacturing data would continue to rise, it didn't - instead falling by the most since June 2012 to 14.69 (from 25.6). This is the biggest miss in 4 months. The number of employees and new orders tumbled as inventories collapsed. Of course, when current sentiment plunges, hope comes alive... the surge in 'hope' for 6 months from now to its highest since January 2012.
Empire Manufacturing plunges...
But hope soars...
Charts: Bloomberg
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What a miss!!! good for 1000 points upward.
Now we know why gold had to be smashed down earlier this morning...
Looks like normal variation to me.
Nothing in the pattern is broken until we go below -10... or somewhere above 30.
Til then, it is same old, same old.
It looks like the trend is still up, which can be bullish.... or it can be bearish. It depends on whether good is bad and bad is good or if we've had a rain mixed with sunshine on a cloudy day.
what a fucking farce.
isnt it amazing how since last thursday night when futures touched 1893 on the s&p, its been a straight line up since, without any downtick?
what a free and unrigged market we have
Yep and barely a two tick pullback in all of this mess.
Spoos are basically back at the all time highs.... unreal.
Hope and Change!
These numbers are as made up out of thin air as they can get and they have been for years. You can't make this up unless you can make this up.
Here's an idea. Everywhere you go, ask the employees if they have added or reduced headcount, and added or reduced hours? Then post it back here.
I bet we could have the most accurate of pictures of the economy in a matter of hours.
Why the complaints about all time highs in stocks? Fed keeps interest rates pinned to the floor and drillers can drill the shit out of the Bakken. What's the problem?
Hopium is all they have left.