Today’s economic data was okay, even though existing home sales came in better than expected and leading economic indicators slightly less than anticipated and both had positive components.
Existing Homes change from a year ago
The lack of supply at the lower end of the market continues to gum up the works, making it more difficult for first time buyers to enter the market.
Existing Home Sales
The leading economic indicators are mostly backward looking, and they haven’t had the same influence on the markets. Back in the day it was a favorite of Alan Greenspan.
The ten components of The Conference Board Leading Economic Index® for the U.S. include:
I like the resolve of the market today as investors are clearly in wait-and-see mode.
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