Markets are down since the opening bell, but have recovered some losses from morning lows. Volatility remains moderately high and investors can expect more this afternoon. Short-term session indicators have been difficult to play as they are swinging back and forth but remaining near the neutral line. US dollar steady, WTI oil prices trending down along with gold as we begin the afternoon session.
Here is the current market situation from CNN Money
$NYA200R chart below is the percentage of stocks above the 200 DMA and is always a good statistic to follow. It can depict a trend of declining equities which is always troubling, especially when it drops below 60% - 55%. Dropping below 40%-35% signals serious continuing weakness and falling averages.
(Reuters) - Charter Communications Inc said its acquisition of Time Warner Cable Inc , which is awaiting clearance from U.S. regulators, is now expected to close in the first quarter of 2016, and not by the end of 2015 as planned.
WASHINGTON (Reuters) - U.S. economic growth braked sharply in the third quarter as businesses cut back on restocking warehouses to work off an inventory glut, but solid domestic demand could encourage the Federal Reserve to raise interest rates in December.
Submitted by Lee Adler via The Wall Street Examiner,
For generations, single family housing development was a driver of US economic growth. Today, there is no single family housing industry to speak of. These 7 charts derived from this week's release of new house sales data from the Census Bureau illustrates just how bad things are.
New house sales fell versus September 2015 and remain barely above the housing depression lows, a mere fraction of 2005 bubble levels. .
This recovery has not even reached the levels reached at the bottom of the 1992 or 1974 recessions. It has gotten back to the 1982 recession low, but there are 45 million more households today than in 1982. This chart shows September sales in thousands for each year since 1972.
The number of full time jobs has returned to 2007 levels. Normally new house sales and jobs growth correlates somewhat. But while the number of jobs continued to grow since 2013, new home sales haven't kept pace. That's because most of the jobs being created are too low payi ...
I have visited and spent weeks at a time in Europe. On this recent trip however, something clicked for me as I stared out my hotel window at a train station and seeing other public mass transportation moving on the street. In Europe, I think that most people donâ€™t have cars because theyâ€™re too expensive.
Then a friend in Vienna said 90% of the people get at least some welfare. I donâ€™t know if this number is accurate, but the reality is surely very high. Itâ€™s socialism to a degree that is almost all-pervasive. My American friends should be aware: we are not even close to this (yet).
Europeans are aware that their administered economy isnâ€™t vibrant or dynamic. They know itâ€™s nothing like the US economy used to be, or even the way it is now.
And theyâ€™re OK with that.
Itâ€™s but a small price to pay, they think, to achieve the goal of everyone being taken care of. The planners of course enjoy the power over peopleâ€™s lives, not to mention the endless opportunities for graft. The people, well, they are freed from responsibility to worry about the future. Itâ€™s all taken care of.
And then it hit me. What is the ideal for these people (not all Europeans, but the ones who love this system)?
They want a world in which the government services them. The government is supposed to feed, water, clothe, shelter, doctor, and move the people where they need to be.
Itâ€™s a view of man like livestock.
I am helping put together a series of Monetary Innovation Conferences. The first two are in DC on Nov 13, and Phoenix on Nov 17. This is not just for the right wing, but for everyone from the unbanked to Wall Street. At the conference, speakers will discuss gold and how innovators are using it to solve real problems for real people. Please click here to register
The National Association of Realtors (NAR) seasonally adjusted pending home sales index declined. Our analysis of pending home sales agrees. The quote of the day from this NAR release:
There continues to be a dearth of available listings in the lower end of the market for first-time buyers, and Realtors in many areas are reporting stronger competition than what is normal this time of year because of stubbornly-low inventory conditions.
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