For the 10-Year yield my annual value level is 2.999 with a annual pivot at 2.813, and quarterly and semiannual risky levels at 2.265 and 2.249. Gold remains above its 50-day simple moving average at $1345.8. My quarterly value level is $1306.4 with weekly risky level at $1401.6. Crude oil is just above my semiannual pivot at $83.94 with this week’s risky level at $84.89. The euro is below my quarterly pivot at 1.3318 and its 200-day simple moving average at 1.3129 on Monday. The Dow is below its 50-day at 11,062, which indicates risk to my semiannual and annual pivots at 10,558 and 10,379. My annual and semiannual pivots are 11,235 and 11,296. New Home Sales declined in October along with home prices.
10-Year Note – (2.826) My annual value level is 2.999 with daily, annual and weekly pivots at 2.855, 2.813 and 2.816, and monthly, quarterly and semiannual risky levels at 2.380, 2.265 and 2.249.
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Courtesy of Thomson / Reuters
Comex Gold – ($1366.3) Quarterly, semiannual and annual value levels are $1306.4, $1260.8, $1218.7 and $1115.2 with my monthly pivot at $1373.0, and daily and weekly risky levels at $1381.7 and $1401.6. Watch the 50-day simple moving average at $1345.8.
Courtesy of Thomson / Reuters
Nymex Crude Oil – ($85.74) Monthly and annual value levels are $78.51 and $77.05 with semiannual, daily and weekly pivots at $83.94, $84.01 and $84.89, and semiannual and annual risky levels at $96.53 and $97.29.
Courtesy of Thomson / Reuters
The Euro – (1.3119) My monthly value level is 1.2709 with daily and quarterly pivots at 1.3321 and 1.3318, and weekly and semiannual risky levels at 1.3688 and 1.4733. The euro is below its 200-day simple moving average at 1.3129.
Courtesy of Thomson / Reuters
Daily Dow: (11,052) Monthly, semiannual, annual and quarterly value levels are 10,848, 10,558, 10,379 and 8,523 with daily, annual, semiannual, and weekly risky levels at 11,197, 11,235, 11,296, and 11,469. The Dow is below its 50-day simple moving average at 11,063.
Courtesy of Thomson / Reuters
New Home Sales Fell 8.1% in October - According to the Commerce Department New Home Sales fell 8.1% in October to a 283,000 annual rate, and sales are down 28.5% year over year. This report came out before Thanksgiving last week and followed a weaker than expected reading for Existing Home Sales.
Home builders have slowed the pace of building as banks are stingy with regard to construction loans. There are only 202,000 new homes available for sale, the lowest since June 1968.
New homes are under downward price pressures with the median price dropping a record 13.9% in October to the lowest level since October 2003. The price decline was 9.4% year over year.
Disclosure: No positions
