Housing Market Index Misses

Released On 4/16/2012 10:00:00 AM For Apr, 2012

Prior Consensus Consensus Range Actual Housing Market Index 28  29  27  to 31  25

While the print of 25 is a fairly big miss, the real problems are in the statistics. The assumed housing recovery was just that, assumed. The Housing Index posted the biggest drop in 10 month, the first drop in 7 months (you have to love those seasonal adjustments that are purely arbitrary) and the biggest miss of consensus in 22 months.

One ha to wonder when this VERY big 2 day leading divergence in SRS is going to translate in to a price move. I would suspect soon.

Does this pattern look familiar?

Resistance is around $33. I personally would set some price alerts for SRS.