Lee Adler

Not Enough Sell Signals

Cycle screening measures weakened enough on Tuesday to put up caution flags that the 13 week cycle up phase may be failing early. But the patterns were not definitive. Here’s what needs to happen to confirm or deny.

Sound and Fury Market

The new downtrend channel held and the market fell back into a thinned out trading range. Once a range has been cleared by multiple passes over a short period of time, moves tend to be very large and fast within the range, slowing only near the edges.

Here’s a Picture of The Single Family Housing Recovery- Holy Cow!

Single Family Housing Recovery- Click to enlarge

Here’s a brief comment from leading analyst on the new home sales news. http://capitalstool.com/music/holycow.wav In case you’re wondering, the seasonally adjusted (SA) headline, larger than expected gain, was due to calendar factors and the bogus drill of annualizing monthly SA data, which merely magnifies the monthly error times 12. But hey, who thinks about that!…