Housing Data

Outlook 05/17: U.S. stock futures are indicating a lower open, after Friday’s strong rally. Investors will be eyeing several housing market indicators this week, with the real estate sector seeing some of the fastest price growth in more than a decade. The National Association of Home Builders' monthly index will be published on Monday and is expected to hold steady. Building permits and housing starts figures released Tuesday are also forecast to stay strong, given a significant lift from buyer traffic, vaccinations, stimulus checks and the spring season.

/ESM21: YVAH 4178 YPOC 4173 YVAL 4147 GAP 4173.50

/ES Plan: Last session market closed bullish (PBT 4540), but overnight looks more bearish, moving witnin Friday's value, so these are the initial balance options for today:

A) If market moves above HVE 4163 with bullish internals, buy towards GAP 4173.50 YVAH 4178 and GAP 4182.

B) If market remains below HVE 4163 with bearish internals, sell towards YVAL 4147 HVE 4122 and GAP 4104.25.

Note: Overnight inventory is 95% bearish. The expected action is a counter-auction relative to overnight inventory. Remember that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.

Market Movers

10:00 NAHB Housing Market Index
10:00 Fed's Bostic Speech
10:05 Fed's Clarida Speech
12:30 PM Fed's Bostic Speech
4:00 PM Treasury International Capital
6:00 PM Fed's Kaplan Speech

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