The widely-watched ‘Chicago PMI’ fell sharply today, and also came in below expectations. The following chart shows how this fluctuates as a leading indicator of the US business cycle.
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More importantly, professional traders including myself and Lex look to this indicator for an indication of what the ‘bigger brother’ ISM manufacturing PMI (due tomorrow) is likely to print. As you can see, it looks like the ISM will follow suit when it is released on Friday.
For Lex’s take on this indicator, along with many other key economic data that are a must for your watchlist, take your trading to the next level today with our Million Dollar Traders Online Course.
