If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list HERE. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.
Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, Please subscribe my Daily Market Report.
Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.
Please no direct link to your personal web site or blog. You must post rich contents here. You can, however, put link to your personal web site or blog as your signature.
I'm very busy during the trading hour, so your question posted on board might not be answered. For a guaranteed answer to your question please send email to info@cobrasmarketview.com.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Out of Bounds wrote:There is no better leading indicator than housing and construction for the economy. This is terrible news.
(Unless you own rental units)
Good news for stock market, no rate hike.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Out of Bounds wrote:There is no better leading indicator than housing and construction for the economy. This is terrible news.
(Unless you own rental units)
Good news for stock market, no rate hike.
I agree, I have no idea how they will raise rates with the numbers that keep coming in.
ES: It's fed day so most likely it's the usual 9:30-2pm shakefest. No edge, no trade waiting for when market is out of no man's land. Sipping my green tea
Out of Bounds wrote:There is no better leading indicator than housing and construction for the economy. This is terrible news.
(Unless you own rental units)
Good news for stock market, no rate hike.
I agree, I have no idea how they will raise rates with the numbers that keep coming in.
Boss, could that be just seasonal? Spring and Summer is the building season I believe. Also, building permit is still steady.
Be careful with permits and how much you read into them. They are notorious for not translating into actual starts - especially when the economy is weak..
Yes, the drop could be seasonal but 11% is really big. Much bigger than seasonality would explain. It's concerning to me.
Out of Bounds wrote:Be careful with permits and how much you read into them. They are notorious for not translating into actual starts - especially when the economy is weak..
Yes, the drop could be seasonal but 11% is really big. Much bigger than seasonality would explain. It's concerning to me.
I see. But I don't think that will affect Fed's decision much. Fed's primary two objectives are 2% inflation (core cpi) and natural rate of unemployment. Housing does not appear so frequent in their minutes, talks, etc.