In an article published last December in 2018, I introduced the Architectural Billings Index ((ABI)) as a powerful indicator of future economic conditions and their subsequent impact on equity markets (SPY) (DIA). Reading that article in its entirety will provide an important backdrop (really, go read it if you want to understand the extent of the implications). In short, the ABI results are drawn from a survey sent to architectural firms throughout the United States.
Those firms are asked to report on whether or not their billings increased, decreased, or stayed