June factory orders revised higher, to -0.6%.
Yields are rising further and equities are firming as the data is okay, not dreadful.
US 10-year notes are up to 2.63%
8 Responses to “Pending home sales rise 5.2%; Factory orders rise 0.1%”
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AUTOREFRESH 
Hi Jamie. Is the twitter feed down?
Jamie, could you please explain me the difference/significance of pending/new home sales/existing home sales….
do pending home sales have less significance (because I don’t see a big rise in risk apetitie with this number….)
Thanks
Anyone have an opinion about AUDUSD? I’ve opened a short on it just below the weekly R1 pivot level (.9106), and there’s also a bearish gartley that has formed on the intraday candlestick chart. tight stop-loss 15 pips above entry as a break above would invalidate the harmonic signal/pave the way for rally up towards monthly R1 level .9168
twitter feed is down…
Pending are deals that have not yet closed…a precursor to the other too. Existing are the most important purely because there are more exiting homes than newly constructed homes.. new home sales impact the construction trades, commodities (copper, lumber, etc…) all are important but existing probably the most…
re: aud/usd, the s&p just triple bottomed off 1040, usd/cad just triple topped at 1.067, and aud/usd put in one helluva candle yesterday. looks like the market wants to go higher, and aud/usd and eur/usd look like short traps to me. maybe they pull back a little, but maybe they rip higher. i don’t think anyone’s taking major positions before nfp, but from a medium-term perspective triple bottoms are strong chart patterns. heck, the aussie rally from 806 was from a triple bottom… imo best play, technically, is to go long around .90 or .904ish. cheers,
thanks JR
fwiw, spx has a gap to close up at 1121, that would correspond to aud/usd in the 93/94s. maybe we get a big short squeeze there before the market takes its big dive. always goes higher than most think and then lower. 95/96 to 77 is possible. s&p has a head and shoulders pattern that a lot of technicians think has a good 70% chance of taking it down from 1140ish to 860ish.