| Log In | Register Now
The S&P futures are testing their psychological 1050 level after drifting below our important 1st tier uptrend line. Our 1st tier runs through October lows, meaning we could potentially be in for a near-term retracement towards 1010 and the highly psychological 1000 zone. U.S. equities are reacting negatively to more disappointing economic data. Although Core DGO data beat expectations, the headline DGO number and New Home Sales both printed negatively. Therefore, New Home Sales continue to trail behind the recovery in Existing Home Sales data. This trend indicates buyers are likely snapping up homes in short sale or foreclosure instead of buying a new home. Regardless, the excess supply of housing is declining, albeit at a snail's pace. In addition to today's negatively mixed econ releases, yesterday's CB Consumer Confidence number also came in well below analyst expectations, reflecting recent negative results from UoM data.
No More Compromise on Birth Control, Obama Staff Chief Vows
Dad Shoots Laptop Video Goes Viral on YouTube After Daughter’s Facebook Rant [VIDEO]
Free Edition
TAKE A TOURWe value your privacy. Your email address will not be shared.
