Tuesday’s collapse in the New York Federal Reserve Empire State Manufacturing Survey ranks as the second biggest collapse in the 20-plus-year history of the survey, according to BespokePremium.
The real collapse is in new orders and shipments.
This indicator surveys manufacturers in New York state across a variety of industries.
That might seem like a small sample, but it could be shedding light on a larger sample within a few sectors. Stay aware of this in 2024.
There are two things that catch my eye in this chart from BespokePremium…
One is the timing of the current condition downturns (2001, ’08, ’20 and post-COVID ’22 to where we are now).
The other thing that catches my eye is that in six months, these same manufacturers who were surveyed expect conditions to improve.
Take a look at the red line and notice the divergence compared to the past. It looks to me like this is a rather strong first.
Think and Win!
Celeste Lindman Trading
If you haven’t already, join my Telegram channel here for frequent trading insights, trade ideas and market musings!
P.S. Why We’re Watching These 3 Stocks
Roger Scott wants you to keep your eyes tight on his recent “Gap To Green Hitlist.”
No. 1: Ticker A…
No. 2: Ticker N…
No. 3: Ticker D…
Want the details and WHY he’s watching them closely?
Join him at 1 p.m. ET TODAY, Jan. 17, and he’ll dive into all the details…
Plus how you can start finding these setups yourself with the Gap To Green Scanner!