Archive for August 16th, 2010

Home Builder Confidence Slips to Lowest Level since March 2009

Home Builder Confidence Slips to Lowest Level since March 2009

| August 16, 2010

The National Association of Home Builders (NAHB) reported that their Housing Market Index (HMI) slipped to 13 in August from 14 in July, the lowest level since March 2009 and only slightly above the record low of 8 in January 2009. The following graph from Calculated Risk displays the tepid nature of the bounce off [...]

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Treasury Yields Plunge to New Long-term Lows

Treasury Yields Plunge to New Long-term Lows

| August 16, 2010

Another surge of buying propelled treasury yields sharply lower yet again today, with the 5-year, 10-year and 30-year all plunging to new long-term lows. The negative divergence that developed between treasuries and stocks in July suggested that yields were preparing to extend their moves lower and that the recent rally in stocks was vulnerable to [...]

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Stocks Consolidate Recent Losses But Additional Short-term Weakness is Likely

Stocks Consolidate Recent Losses But Additional Short-term Weakness is Likely

| August 16, 2010

The breakdown from the rising wedge last week was as violent as anticipated, and the failure of the S&P 500 index to produce even a small reaction rally during the last three sessions suggests that the decline will likely continue down to critical congestion support in the 1,060 area. Our current cycle count indicates that [...]

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Short-term Forecast for August 16, 2010

Short-term Forecast for August 16, 2010

| August 16, 2010

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