One more day like today (well not really) and we'll repeat the Jan 2009 top pattern which also featured an extremely overbought McClellan Oscillator………………….Maybe this slop is an ending diagonal/ hopefully truncated wave 5
About 18.9 million homes in the U.S. stood empty during the second quarter as surging foreclosures helped push ownership to the lowest level in a decade.
The number of vacant properties, including foreclosures, residences for sale and vacation homes, rose from 18.6 million in the year-earlier quarter, the U.S. Census Bureau said in a report today. The ownership rate, meaning households that own their own residence, was 66.9 percent, the lowest since 1999.
Lenders are accelerating foreclosures as borrowers fall behind in mortgage payments after the worst housing crash since the Great Depression. A record 269,962 U.S. homes were seized in the second quarter, according to RealtyTrac Inc. Foreclosures probably will top 1 million this year, the Irvine, California- based data company said in a July 15 report.
You can't exactly expect it to just fall off a cliff, (I wish). They have too have these “pause” days, where we range trade for a few days… then fall off a cliff! LOL
So… up or down from here…. critical juncture, no? Failure to definitively break above 200 MA is bearish. Any failure to go lower is bullish. GAH!
YGM
They have total control Woody. They control the horizontal, they control the vertical, they control everything. LOL
SPX close almost exactly ON the 200 MA? wow…
One more day like today (well not really) and we'll repeat the Jan 2009 top pattern which also featured an extremely overbought McClellan Oscillator………………….Maybe this slop is an ending diagonal/ hopefully truncated wave 5
They think this is good for the markets:
About 18.9 million homes in the U.S. stood empty during the second quarter as surging foreclosures helped push ownership to the lowest level in a decade.
The number of vacant properties, including foreclosures, residences for sale and vacation homes, rose from 18.6 million in the year-earlier quarter, the U.S. Census Bureau said in a report today. The ownership rate, meaning households that own their own residence, was 66.9 percent, the lowest since 1999.
Lenders are accelerating foreclosures as borrowers fall behind in mortgage payments after the worst housing crash since the Great Depression. A record 269,962 U.S. homes were seized in the second quarter, according to RealtyTrac Inc. Foreclosures probably will top 1 million this year, the Irvine, California- based data company said in a July 15 report.
Well,
You can't exactly expect it to just fall off a cliff, (I wish). They have too have these “pause” days, where we range trade for a few days… then fall off a cliff! LOL
A ramp into the close??? Ugly slop all day long.
Are you short ??? Are you shorting gld??
Now we have a downside SPY FP of 107.37. Let's see if we get there over the course of this/next week.