U.S. HOUSING STARTS have posted lower than expected forecast.

Again, this is another indicator that the American Economy is shifting gears...  

What does this mean for the Global Markets?  How will this affect Currencies?

A wise man, and a fist full of cheap wall street guys agree on this... 

One number does not indicate a trend.

Housing is cyclical, and it is affected by the weather.   Winter, Hurricane, Summer, Flood, Spring, Etc...  I believe that there will be a group correlation experienced at some point regarding these numbers.   But, it's still just a tad too far out say what this number is going to tell us for the long term.

 

What about our trade today?

Backtesting has shown that there is a 1/195 chance that this trade will go more than 100 PIPs against us.

Additionally, there is a 75% chance that this will close before 5PM Eastern.

To express the market trend in a different way, reference the chart below:

That last candle represents today, and the previous candles take us back to July.

So... The trend continues.

ONE FINAL note.

We are about 24 hours away from the Fed decision on Interest Rates for this session.  

I'm much less concerned about a rate change for this session, I feel it's already been built in. What I am looking for is an indication of their observations of the market.  To be able to get a glimpse of the Fed's plan for rates will take everyone considerable further than just a binary decision tomorrow.

Song Of The Day Volume #3 BONUS

Livin' On a Prayer by Bon Jovi https://www.shazam.com/track/20145089/livin-on-a-prayer?referrer=share