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Two Ways: What the Manufacturing Index Says About the Economy


Strengthen your portfolio in good times and bad.


Results After the Open

The Institute of Supply Management, or ISM, will release figures related to its manufacturing index at 10:00 a.m. According to the Associated Press, economists predict the index will come in at 38, representing a contraction for the fifteenth consecutive month.

The index is based on a survey of members of the Tempe, Arizona-based trade group. After falling to a 28-year low of 32.9 in December, it has since been recovering, posting a reading of 36.3 in March. A reading below 50 signals a contraction.

See Professor Vinny Catalano's Bulls Out of Momentum.

From the Bull Pen: Bulls can look to CVS Caremark Corporation (CVS). Watch for a pull back to the 200 DMA (near $30). A sell stop can be set below that level.

From the Bear Cave
: The more closely watched figure was consumer spending, which accounts for over two-thirds of our economy. That number fell more than expected in March. If you're in the camp that the rally's running out of steam, consider the Ultrashort Q's (QID). A sell stop can be set 2 points below entry.

For expert economic insight and analysis, take a free two week trial to our Lavery Insight by former Merrill Lynch Chief Economist Jack Lavery.

Quick Check Around the World

Asian trading closed with the Nikkei 1.69% all other Asian markets were closed.

Europe was closed.

As of 8:20 AM EST, S&P Futures are trading +4 to 874.00, and Nasdaq futures are +5 to 1398.00.

A Look at Commodities

Over in commodities, crude oil is trading -0.13 to 50.99 while gold is -7.9 at 884.00 this morning. Silver is -0.100 to 12.250 and copper +1.80 to 207.10.

The dollar index is -0.2000 to 84.5750.

On the Radar


09:55 Michagen Sentiment Revised 61.5
10:00 Factory Orders -0.7%
10:00 ISM Index 38.0
02:00 Auto Sales
02:00 Truck Sales

Good luck today!

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No positions in stocks mentioned.

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