End of the Year Financial Info, What's Going on with Tech and Nasdaq, Resistance Lines, and what that means for Bay Area/East County MortgagesAndy Simon | December 29th, 2015
Mortgage Bonds are trading lower and giving up some of yesterday's modest gains. Trading volume has been light this holiday shortened week and will get even lighter as we approach New Year’s Eve.Later this morning Consumer Confidence and the Case Shiller 20-city Home Price Index will be released. At 1:00pm ET, the Treasury's $35B 5-Year Note auction results will be released and this could impact trading. Stock futures are rebounding higher this morning as the energy sector is getting a boost from higher oil prices. With just three trading days left in 2015, the S&P is down 0.1% year to date as of Monday’s close, while the Dow has declined 1.7% and the tech-heavy Nasdaq Composite is up 6.4%. Technically, the chart shows the Falling Resistance Line. Prices continue to ride sideways to lower beneath this ceiling. At the same time the Bond does have support at the $102.75 area.