Weaker demand for existing homes
On top of the weaker Housing Starts and Building Permits data on Friday, today, Existing Home sales was weaker as well.
Read MoreAnother month of weaker Housing Starts
Even with the markets closed on Friday, the Commerce Department still released data on the housing market.
Read MoreTactical indicators update
We continue to believe the market is in the process of a minor correction based on our four key tactical indicators being in overbought/optimistic territory.
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