More new orders = more employment = rising market

The first chart shows the ISM Manufacturing index for new orders vs. the survey’s index for employment.  These have shown an encouraging pick up. The second chart shows how the S&P 500 has correlated to growth in nondefense factory orders (courtesy of Scott Grannis at Calafia Beach Pundit). Jeb B. Terry, SR.  Jan. 12, 2014

ISM Mfg new orders and employment index 1-12-14

Nondefense factory orders & SP500 1-12-14Aberdeen Investment
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