The PMR Chartist #8
Most interesting charts I stumbled on today...
Mortgage applications are still awful and at 25-year lows.
ADP payrolls continues to hover between 100K and 160K.
Job openings a touch higher than expected and essentially flat since last summer.
Hires moved lower and are still in a firm trend lower. With that said we are off the lows.
Quits stayed at 2.4% which is not really high or low but is below 2019 levels.
Notably, construction job openings jumped and hit a new high.
ADP had construction payrolls up by 28K and at a new high.
Palladium with a break higher to little fanfare today.
This means each tick higher is making millions of consumers feel that much richer. Downside would of course do the opposite.
I ever mentioned the fact that the market is expensive?
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