Consumer confidence vs. sentiment spread is plunging after reaching record levels; ISM New Orders suggests this slowdown will be the worst since 2008.

via @TaviCosta:

All previous declines from cyclical highs led to recessions.

Confidence leads the way.

History doesn’t repeat itself, but it often rhymes.

 

via @Not_Jim_Cramer:

ISM New Orders – Inventory Spread leads the overall Composite by 3 to 6 months and currently suggests this slowdown will be the worst since 2008.

 

via @crescatkevin:

The fire hose of cycle-ending macro data continues.

Note the late-cycle turn in the Conference Board’s Jobs Hard to Get Index.

Historically such a move coincides with asset bubbles bursting and precipitates recession.