The good news today... is that with numbers like this, it becomes much easier to beat to the upside down the road. With prices down over 50% from peak values, the market knows this and can begin to think about recovery down the way. How long that road is; however, remains anyone's guess. Cumulative Tick and AD lines are constructive for now. While several indices have actually gone positive, I expect the S&P 500 to face potential resistance near yesterday's close. Keep an eye on that rising VWAP all day long.
Never Investment Advice
Housing Inventory: NAR and Housing Tracker
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