Beginning with our oft-watched Machine Tools sales graph, we find that May did not include any sort of post-harsh winter bounce in sales.

Nor did the multi-industry reading do well.  For a full review of the included industries, check out EDA Industry Insight.

When we consider this along with the now bearish (but bouncing hard today) Palladium-Gold ratio, we note that bearish economic indicators are gathering and so is the case for changes in the coming months.