Latest BOA global fund manager survey.

All the above charts are showing ebullience in the financial market.  However, the chart below is showing a contradictory signal.

There is supposed to be a high correlation between the stock market and ISM PMI but there is a disconnection now. Either the PMI has to move up or the stock market has to come down to sync with each other.  As we are not expecting the PMI to move up tremendously, the only outcome will be for the stock market to fall to sync with the PMI.  In other words, there is extreme bullishness in the stock market because of the AI hype.