Morning update (2):
ZN holds 115 and equities are struggling to hold key support, namely SPX 1383. This looks like consolidation at lows, not a good sign especially with AD lines dropping further. Be careful, we could sell-off some more.
May 23 (Bloomberg) -- Sales of previously owned homes in the U.S. fell in April, matching a record low and signaling no let-up in the housing recession.
Purchases declined 1 percent to a higher than forecast annual rate of 4.89 million from 4.94 million in March, the National Association of Realtors said today in Washington. The median price dropped 8 percent from April last year, the second- biggest decline.
ZN holds 115 and equities are struggling to hold key support, namely SPX 1383. This looks like consolidation at lows, not a good sign especially with AD lines dropping further. Be careful, we could sell-off some more.
May 23 (Bloomberg) -- Sales of previously owned homes in the U.S. fell in April, matching a record low and signaling no let-up in the housing recession.
Purchases declined 1 percent to a higher than forecast annual rate of 4.89 million from 4.94 million in March, the National Association of Realtors said today in Washington. The median price dropped 8 percent from April last year, the second- biggest decline.
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