$INDU 9861.46 -20.71 -0.21% 281,770
$INX 1056.63 -6.78 -0.64%
Take profit ~ Golden harvest time.
SPX 1054 ~ still bouncing off -- markets are not oversold because the time was dragged.
Markets are overdue for a meaningful correction after all kinds of manipulation to hype the markets, e.g. FASB changing accounting rules of mark-to-market, and numerous up grades. And now, we are seeing a mild downgrades, but not yet a downgrade bandwagon.
Why would new home sales drop -- the reason would be the government buying program is not as active.
Tightening credit card rules with new Consumer Protection Bill.
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