Equites typically perform strongly after ISM moves above 56 – this has played out to script, and ISM has now rolled over
- We found that the S&P500 has continued to move higher 100% of the time after the ISM composite moved above 56, such as it did in December. The last three months’ returns are in line with those
that were observed on past occasions.
- The typical strong equity move might have played out, and ISM has likely peaked.