The Institute for Supply Management released its October 2014 Manufacturing ISM Report On Business Monday and most likely will release its October 2014 Nonmanufacturing ISM Report On Business Wednesday, which means I soon will be able to bring up-to-date my proprietary U.S. Economic Index and the associated comparison of the historical monthly levels of the USEI and the SPDR S&P 500 ETF (SPY). My article on these data series will appear either at J.J.’s Risky Business or at Seeking Alpha.
Meanwhile, Seeking Alpha published last week my latest piece about securities market credit at the New York Stock Exchange. As customary, I brought up-to-date the levels of my Margin Debt Directional Indicator, or MDDI, and my Securities Market Credit Risk Rank, or SMC Risk Rank, as well as the associated comparison of the historical monthly levels of NYSE margin debt and SPY. Below are links to all the 2014 stories in this series centered on the risk of speculation in the equity market:
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