Some further thoughts, which stretch my limited TA skills. The last few days have seen a bearish flag develop (slanting up against the downtrend) Some analysts say the break out will be around the width of the congestion, some say the same as the flag 'pole', in both cases this represents about 200 points - target 10,550Hook Shot said:
WASHINGTON (AP) -- Sales of existing homes set a record for a fifth straight year in 2005 even though the year ended on a weaker note with three straight monthly declines, sending a strong signal that the nation's housing boom is beginning to cool. The National Association of Realtors reported that sales of previously owned homes and condominiums dropped by 5.7 percent in December compared to the sales pace in November. It marked the third consecutive monthly decline, something that has not occurred in more than three years. Even with the sales weakness in the last three months of the year, total sales in 2005 climbed to an all-time high of 7.072 million units, up 4.2 percent from the 6.784 million homes and condominiums sold in 2004. David Lereah, chief economist for the Realtors, said he expected price increases to slow this year as sales drop by around 6 percent. He said this would represent a cooling housing market but not a collapse as some analysts had feared. "This is part of the market adjustment we have been discussing with a soft landing in sight for the housing sector," Lereah said.macbonzo said:
kriesau said:
Dax and Dow have not moved in tandem for quite awhile.Hook Shot said:
