Without the consumer back in the game, a double dip recession, led by housing is a real possibility. Politicians and the populous movement are angry about continuing anything associated with growing the government and adding to the deficit.
Given that fact that we closed above the 8 day, many bearish signals (ADX, Trend Intensity, etc.) have been neutralized, crippling the bears and reducing the probability of continued bearish trending. In other words, the light we were seeing “is” the end of the tunnel which should produce better mortgage pricing into Friday’s Employment release (7:30 am cst).
Both Weekly Unemployment Claims and Retails sales missed expectations as [...]
