What will happen today? First more up before dump, or retrace first to pump afterwards heading 17k like 9 days ago? SPY looking like it wants to unload. 🤐
What is Core Durable Goods Orders?
Core Durable Goods Orders measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items. Because aircraft orders are very volatile, the core number gives a better gauge of ordering
trends. A higher reading indicates increased manufacturing activity.
Why it matters? More orders would indicate an intact consumer behavior. Less orders declining economy power based on consumer behavior.
Just to make it clear, for Wall Street narrative of a pivot scenario we need a stable/declining inflation, shrinking economy power and on top an increasing unemployment rate. A strong economy with a stable but high inflation allows FED to be hawkish. WS don't like that! 😂
Oops... unemployment going up while consumer behavior still intact? That's not useful. 😂😖
This post is based on this twitter thread.