10-Year Note -- (2.806) My annual value level is 2.999 with daily, annual, and weekly pivots at 2.815, 2.813, and 2.816, and quarterly, semiannual, and monthly risky levels at 2.265, 2.249, and 1.949.
Comex Gold -- ($1384.3) Quarterly, semiannual, and annual value levels are $1306.4, $1260.8, $1218.7, and $1115.2 with daily, weekly, and monthly risky levels at $1402.8, $1401.6, and $1443.5.
Nymex Crude Oil -- ($83.68) Annual and monthly value levels are $77.05 and $75.50 with semiannual and weekly pivots at $83.94 and $84.89, and daily, semiannual, and annual risky levels at $86.01, $96.53, and $97.29.
The Euro -- (1.2978) My monthly value level is 1.2500 with daily and quarterly pivots at 1.3133 and 1.3318, and weekly and semiannual risky levels at 1.3688 and 1.4733.
Daily Dow -- (11,006) Semiannual, annual, monthly, and quarterly value levels are 10,558, 10,379, 10,325, and 8,523 with daily, annual, semiannual, and weekly risky levels at 11,202, 11,235, 11,296, and 11,469.
Home Prices Fell 2.0% in the Third Quarter according to Case-Shiller --The S&P / Case-Shiller Home Price Index declined 2.0% in the third quarter, but remains up 4.9% since the first quarter 2009 lows. From the peak in June / July 2006 to the first quarter of 2009 the decline was 32.6%.
Freddie Mac Also Reports a Decline in the Third Quarter -- Freddie Mac’s Conventional Mortgage Home Price Index, the Purchase-Only Series, registered a 1.9% decrease, down 7.4% annualized relative to the second quarter, and down 3.1% year over year.
Consumer confidence came in as expected with a reading of 54.1 up from just below 50.0 in October, but keep in mind that 90 to 120 is the neutral zone. A reading of 54.1 is extremely weak. The neutral zone for the Conference Board Consumer Confidence is 90 to 120. To be robust, confidence needs to be above 120.
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