Key Economic Data Ahead

This is an important week for economic data, leading off with Durable Goods this morning at 10am.  Following later in the week, we’ll get CPI, PPI, import/export prices, continuing claims and consumer sentiment — not to mention FOMC minutes.

This morning, we’ll take a look at durable goods new orders – a pretty good indicator at times for what to expect from the stock market. The chart below shows YoY percentage change on a monthly basis.

Note that the last time orders broke trend we saw a one-month bounce followed by a much bigger drop which, in turn, corresponded with an interim top and the 2015-2016 correction.  Since it has recently broken trend again, it could have much to say about the state of the economy.

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