ISM Brings Market Back to Reality After Exuberant Week. What's Next?

Today's ISM Manufacturing numbers were a clear reflection of what many are assuming about the economy. However, if we're all assuming it, does that mean that the recessionary scenario is priced in? If you look at the increase in short interest it does, but surprises are always that order of the day. (RIVN, NKLA, TSM, MU, TIP, PEP, MNST, EEM)...