HGX (housing index)has now turned negative and stocks are struggling. The action is starting to look toppy. Watch DOW 12473.20, must hold at close.
March 23 (Bloomberg) -- Figures showing a surge in sales of existing homes over the last 90 days require ``a cautious reading:'' The ``true test'' will come with March and April data, according to economists at FTN Financial.
Gold is dropping on the rising yields, but inflationary pressures are building once again and it should be supportive at some point. April contact needs to hold 655/657.
March 23 (Bloomberg) -- Figures showing a surge in sales of existing homes over the last 90 days require ``a cautious reading:'' The ``true test'' will come with March and April data, according to economists at FTN Financial.
Gold is dropping on the rising yields, but inflationary pressures are building once again and it should be supportive at some point. April contact needs to hold 655/657.
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