Chi-Town PMI UGlY

Released On 3/28/2013 9:45:00 AM For Mar, 2013 Prior Consensus Consensus Range Actual Business Barometer Index - Level 56.8  56.1  55.0  to 57.9  52.4  This one came in ugly, from 56.8 to 52.4 on consensus of 56.1. The internals are where you really get information such as new orders crashing from 60.2 to 53 Production was the weakest since 2009 In the "Respondents" section was this tidbit about the Housing Recovery... "a company we buy steel from, they also pre-cut steel for new home construction, back in 2007 they shipped 110 rig packages per week, today they ship 2 rig packages per week, and for carpenters, for one employed there are 15 unemployed."" From 110 rigs a week to 2? See what happens when we exit seasonal adjustments, it was this same time last year as well. However, the market didn't skip a beat, I thought maybe it will take a little time to sink in or maybe this is the "Bad news is Good news" from the QE crowd. From the looks of the trend, it looks more like my theory of the Quarterly ending on a 3 day weekend. What say you? That's the cleanest trend I've seen in the market on any timeframe in I don't know how long.