Carlin: Wall Street Owns Washington

Global PMI: Global Economic Recovery Is Weakening – Crucial PMI Numbers Coming In WEAK!!! Australia Economy Is Collapsing While UK, India, China, France All Came In Weaker Than Expected: New Orders And Production Contracting, Soft Demand, Weak Confidence. Tom Kee: DJIA Could Crash 50%


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SCORECARD (All Time ET)

SCORECARD (All Time ET)

CHINA’S OFFICIAL PMI UNEXPECTEDLY FALLS, EMPLOYMENT SLUMPS

China’s NBS just published its official manufacturing PMI report, and it’s a bit of a disappointment.

 

The headline number unexpectedly slipped to 50.4 in January.

Economists were expecting an increase to 51.0 from 50.6 in December.

 

 

COLLAPSE: Here Are Some Horrific Numbers Out Of Australia

Its manufacturing PMI slumped to 40.2 January, down fom 44.3 in December.

Any reading below 50 signals contraction.

Here’s a breakdown of the sub-indices.  As you can see, exports are particularly horrific:

 

australia pmi

Markit

 

Here’s a historical look at headline PMI:

australia pmi

 

UK PMI Falls to 50.8

UK PMI isn’t going to move markets much.

 

The index fell slightly from 51.2 to 50.8.

Orders, Employment, And Production All Fall In Bad French PMI Report

No green shoots here.

Whereas Spain and Italy both saw improvement from December, France did not.

French PMI fell to 42.9 from 44.6.

Here’s the damage in one quick image summary.

image

 

 

Dow Jones Industrial Average Will Hit New Highs Before Crashing 50 To 60 Percent

There’s an old axiom that claims you get what you pay for, meaning value does not come cheaply. This is particularly poignant at a time when traders are on watch for the Dow (^DJI) and S&P 500 (^GSPC) to set new closing highs and investors seem immune to existing signs of caution. Even theworst GDP figure in 3 1/2 years didn’t do much to slow the market’s ascent.

Even the most optimistic investors are getting a bit antsy these days, wondering how and when it’s all going to end. For Tom Kee, president & CEO of Stock Traders Daily, the answer to that question is ‘not well.’

“I’m looking for another high in this market, then I am looking for a turn down,” Kee says in the attached video, adding that he believes it is “going to come relatively soon.”

By downturn, however, what Kee real means is a crash to the tune of ”50 to 60%,” which would bring the Dow Jones under 6,000.

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