ACTION REACTION

"•The market generally doesn't pay much attention to the services index because the service sector is less cyclical than the manufacturing sector. During the recession, the service index held steady around 50.0% through September 2009 before bottoming at 37.4% in November 2008. Since then, the service index has slowly risen back and finally broke the 50.0% barrier. In contrast, the manufacturing index, with the exception of January 2009, stayed below 50% from December 2008 through July 2009 and bottomed at 32.9% in December 2008."

coulda fooled me. market action is divorced from reality

D