The number of new single-family homes sold in April surprised to the upside. The equity market was already on an upswing but this piece of good propelled it even more. The trend of the annualized new home sales data is showing an up-trend. The year-over-year change healthy. This bodes well for the economy in general and home…
Directional Bias For The Day: To the upside 10:00 AM – S&P Futures Breakout of a Bullish Flag On 6-minute time frame, eMini broke out of a down-sloping bullish flag at the NYSE open. The flag pole started to form at 3:00 AM NY time. The low was at 2041.25. The high of 2058.00 was reached…
Monday, May 23rd 106, was a range bound day for the U.S. equity market. S&P 500 fluctuated between a high of 2055.58 and a low of 2049.06 before breaking down in the last half-hour of NYSE trading to drop to 2047.26. In the process a symmetrical triangle was formed on 30-minute time frame. This shows an…
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