Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Data released on Wednesday shows that the purchase price of homes backed by Fannie Mae and Freddie Mac spiked to a new four-year high, as shown on the graph below.
We'll see whether this spike represents a turning point on increasing house prices (home price bubble forming?)…one to watch over the months ahead.
In contrast, MBA purchase applications fell 3% and and the amount of refinancing fell below the prior week's numbers, as shown below…also ones to keep a eye on over the next weeks.
Data released on Tuesday shows that the Richmond Manufacturing Index declined, and, as shown on the graph below, it's pretty evident that manufacturing conditions have been in general decline since April 2010.
A reader asked if I would do a post recommending Canadian on-line links to the world's financial markets.
Here's my take (as a Canadian)…
During my trading day I have my TV tuned to BNN (Business News Network). It's Canada's only television service devoted exclusively to business, finance, and the markets. Their commentators are very professional, extremely knowledgeable in all world and financial affairs, and deliver unbiased information.
For those whose TV providers do not transmit this program, you may receive information from their above web link. There, you will find links to their bloggers, as well as to their latest services ~ mobile real-time TV (for smartphones and tablets), live video stream (an inexpensive subscription to live, high-speed video stream), and Twitter.
You will be continually updated throughout the day (with repeat segments in the evening in case you missed them earlier in the day), not just on Canadian content/issues, but also on world issues (there is a heavy emphasis on their reporting of world issues as they unfold…and without delay, I would add).
Their network and commentators are second to none…trust me! I also find their guests very interesting and knowledgeable (they range from traders, to fund managers, analysts/researchers, current/former politicians, current/former banking officials, current/former world leaders, large/small business CEOs, etc.).
BNN has my full endorsement. You will find the link to their website along the right side of my Blog under Sites I Visit. By the way, I'm not affiliated with BNN in any way.
I hope this was useful in your pursuit of knowledge.
Further to my last weekly market update, here is a summary of where money flow ended for Week 3 of May 2012.
The Weekly charts below of YM, ES, NQ & TF show that they all closed much lower than the prior week on higher volumes. They have now broken out of their ranges from January. The YM, ES & NQ are sitting above their weekly 50 sma, while the TF has closed below…whether they find short-term support at these levels remains to be seen.
Charts of interest that I'll be watching on Friday (and next week) to see if bulls maintain control of bonds and U.S. $, and if the selling continues in equities…
