Tag: emini prediction

Positive Housing Numbers Provide Perspective

With positive news regarding U.S. residential construction numbers, stock-index futures reacted bullishly today. The Existing Home Sales report created quite a bullish move of about 5 points on the ES (E-Mini S&P). This large move occurred near the 10:00 a.m. mark when the report was announced. See the chart below. According to U.S. Commerce Department figures, new housing construction rose in August by 2.3 percent. As of the last two years, single-family home construction starts are at the highest point right now. This increase is likely due to mortgage rates near all-time lows and inexpensive property costs. The National Association...