The ISM PMI is still the one macro signal holding out on us. It was supposed to break above 50 last month flipping from contraction to expansion. But instead slipped to 48 as businesses pulled back on new orders. That could be the missing confirmation for a full bull phase. Rates and the dollar are likely to ease into year end, which could finally push the ISM higher. And with $BTC dominance starting to break down and $ETH holding over $4K that shift could be the point where the rally stops feeling early and starts feeling inevitable.