The big plunge in the New Orders Index comes as a a surprise, but weakness was expected.
The NFP report confirmed the slowdown with a visible fall in the number of average weekly hours worked for January. This is a leading indicator, so if it does not bounce back soon enough, the headline NFP number should continue to be on the weaker side.
3 comments:
Hi Adi
Your call for a drop in the market was right on the money...
Do you think the correction is over and we go up from here ?
Hi OR
I do not think the correction is over even if the market looks strong. After it passes, I think that this correction will look more like a consolidation with wide swings.
Thanks Adi
Seems like 2014 will be tougher to navigate than 2013...
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