USA Stock Consideration Change Report
ALLE, ANTM, ATO, BCOR, CENT, FOXF, ILMN, IPCC, KMT, MCS, WAT, WYN all join Sell Watch.
SPG joins Buy Watch
Update USA Housing – Revised
Housing improved overall in March. Purchases of new, single-family homes increased by 5.8% to an annual rate of 621,000 units. Compared to last year at this time, purchases are up 15.6%. The median sale price for a new home rose 1.2% in March to $315,000. Existing home prices increased 5.6% according to the National Association of Realtors. Inventory is down to 3.8 months. A “normal” market generally has 6.0 months available. New home construction rate is now at 1.2 million units annually. Overall, housing is continuing a favorable long-term direction and in line with our expectations.
USA Considerations (Buy, Buy Watch, Sell Watch, Sell) April 2017
Currently, 78.1% of stocks are within their normal trading range and considered a Hold. While over the past 24 months the number of stocks moving to the Sell and Sell Watch side of the balance have increased, we have noticed that in the past 30 days over 1% of the stock universe have moved back to Hold. This is a good sign that overvaluation pressures were reduced over the past month. The Buy and Buy Watch side of the market remained stable at 6.5%.
USA Market Relative Fair Valuations
Well so much for the waiting game! Two straight days of above 200 points on the DOW and a new all-time high for the NASDAQ clearly declared an end to the waiting game Part II.
USA Stock Consideration Change Report
MCHP, PNW, TUP all join Sell Watch list.