Market Rallies! (Obviously Hasn't Seen Housing Numbers)

With Japan up 6% and Hong Kong up 14%, it’s not surprising that the DOW is up a bit this morning. Those expecting the rally to continue should probably look at:

  • August’s hideous housing numbers
  • Consumer confidence, which came in at an astoundingly low 38% (vs. 61% last month and a 52% guesstimate).

See Also: August Housing Numbers Not Cause For Celebration

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