We have seen bullish price action and internals through the mid-day, making for a strong recovery effort versus yesterday's afternoon giveback. Additionally, I am seeing more aligned/broader cross-sector participation. Obviously, all eyes are on those 200-day moving averages just above yesterday's highs for the S&P500. A close above SPY $111.1 or so could provide comfort to bulls, although we are a touch short-term overbought here on a daily bar basis. I forgot to mention I would be on the road yesterday, it's good to be back.
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A few comments on New Home Sales
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