Market comments for Sept. 23rd (UPDATE)

Initial jobless claims were announced this morning. Expectations were for 440K claims and the number came in at 465K, so it was 25K higher than expected. The prior week's data was also revised up from 450K to 453K. Dow Futures dropped immediately from being down about -60 points to now being down -80 points.

Continuing Claims came in at 4.489 Million versus an expectation of 4.450 Million. This too was more than expected. The prior week's data was revised upward from 4.485 Million to 4.589 Million Continuing Claims.

Many of the Indexes have a Sell Confirmed reading from American Bulls from yesterday's close, such as the Nasdaq Composite, SP500, NYSE, Russell 2000, and others. The Dow Industrials had a Sell-If signal posted.

Gold is up 17.8% YTD and that is higher than most investments this year.

AT 7:00AM PST, Existing Home sales will be announced and updated here, as well as Leading Indicators. And tomorrow Durable Goods Orders will be released and New Home Sales.

UPDATE:
Existing Home Sales for August came in at 4.13 Million Homes. Expectations were for 3.80 Million Homes sold. The prior month of July's data was revised up from 3.83 Million to 3.84 Million.

Leading Indicators for August data was also released. It came in at +0.3% versus an expectation of +0.1%. The prior month of July, the data was +0.1%.