A reading of 1.0 , a slight improvement from last NEG reading is heardly grounds for rally nor cheering, nor proof we have sustainable underpinnings in place to move forward and grow. The recent PHILLY FED is more akin to recessionary climate, not EXPANDING economy this far into "recovery". MOST DATA is unlike any avg of last 8 recoveries, including strongest Sept mkt in 70 years, in 8 months 26 90% volume days, weak job market, failing GDP, COntraction of Bank Lending......but companies mostly continue to BEAT estimates....BUT have we already seen peak activity?
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