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“Davidson” submits:
The Industrial Production Index (IP) pushes higher to 103.99. The peak was Sept 2018 at 104.11 with a PMI 58.8. Contrast the current rise in the IP with today’s PMI of 48.5 and this makes it very apparent how little credence market participants are giving to economic fundamentals.
Industrials remain a strong suggestion for the current mismatch between market psychology and economic reality.
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