With jobs, comes ability to BUY these "bargain" basements along with LOW interest rates, BUT the data shows weakening instead of strength.
In Dec 5.22M (on yearly basis) homes sold pace (existing) with a 1% price drop and 8.2 months of supply. April had 9.2 months supply, only 5.05 M pace and a 5% DROP in price...
Data due out 8:30 includes retail sales (is GAS incl? yes) and inflation data, futures show nice openeing POP! but IMHO demand has not shown up in any meaningful way....and SELLERS have not sold with reckless abandon, we will go up and test a support level to which IMHO it gets sold. FOMC meeting next TUESDAY for rates......flip a coin
D
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