A Quick Look at Housing
posted May 20, 2006 at 02:07PM
As expected the chart is resolving in a bearish fashion. Things are oversold, so a relief bounce can be expected, but I still see further down-side after that to test the 200 level.
Gold and housing may trade in concert for awhile, but at any point if the Fed trys to "save" housing, gold will react bullishly, whereas housing probably won't.