Well housing came in a lot worse than expected and you can see what that has done to the rally after good earning from some of the SP 500 company's-even if they were on lower guidance and lower expectations- and better than expected consumer spending. The rally hit my high point in the charts as I see it. The 1331 level is where my charts say's we should be bumping up on resistance over the 5 year chart I have been following. I wish I knew how to input it into the blog, maybe one day I will.

Here is the two latest charts i can show in reference to the housing market. Thanks to  streettalklive.com  and Doug Short for these two. It helps to illustrate my point. Until the job market improves and the FED stops the easy low interest rate environment, this market has a long way to go before it heals itself.