Market Update – Another Short Squeeze Results in a Bifurcated Market

12:41 p.m. ET Out since the last update, U.S. Factory Orders Fell -3.6% (consensus -2.6%) after a downwardly revised 2.3% (from 2.8%) in September. On a MoM basis this the biggest drop since the COVID lockdowns (April 2020). Factory orders are down -2.1% on a YoY basis, which is the worst since September  of 2020….