Dow at Resistance, Housing Sales Surge…

Posted by David Rosenberg - Gluskin Sheff

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In this issue of Breakfast with Dave

• Market comment: The Dow briefly breached its April 26 interim high yesterday, but 11,205 seems to be posing some serious resistance to the upside

• Trading down: the move-up home buyer has become a very rare breed these days; yes, U.S. existing home sales did surge 10% in September, but median home prices fell 3.3% and is now down three months in a row

• The Chicago Fed National Activity Index confirms a stall-speed U.S. economy: this broad barometer weakened to -0.58% in September and is the second negative reading in a row

• ‘Real economy’ leading indicators point to anemic growth in the U.S.

… Market Musing HERE