US housing market frozen – will a rate cut fix it?
Housing sale data is flowing through to the FED and at first glance, things don’t look great.
Pending home sales look to have dropped 5.5% to an all time low in July. With sale insights looking this poor, we’re left wondering perhaps the ‘higher rates for longer’ has actually started to work. Many components of the US economy still seem to be steaming ahead despite higher rates, so to see the housing market start to splutter could be the signs the FED have been waiting for to start monetary easing.
We’re thinking the timing of the rate cuts in mid September are very quickly going to be used to political advantage. Both democrats and republicans will be finding communication methods to twist monetary policy into their campaigns, and whether each party manages to keep their policy promises (or not) rate cuts will shape the style of leadership we’re likely to see for the next term of presidency.
Gold is sitting confidently around its all time high at time of writing and with its RSI also sitting at 61 – still has some capacity to move higher into the coming week.
Enjoy today’s forecasts.
Gold daily chart, with 200MDA

Silver daily chart, with 200MDA

US500, with 200MDA

Gold Futures Technical Analysis
Gold Futures monthly analysis continues to recommend a STRONG BUY with Weekly analysis a BUY signal.
Technical indicators – Monthly Projections
RSI(14) | Overbought |
STOCH(9,6) | Buy |
STOCHRSI(14) | Overbought |
MACD(12,26) | Buy |
ADX(14) | Buy |
Williams %R | Overbought |
CCI(14) | Buy |
ATR(14) | High Volatility |
Highs/Lows(14) | Buy |
Ultimate Oscillator | Buy |
ROC | Buy |
Bull/Bear Power(13) | Buy |
Summary for Monthly forecast: Strong Buy
*Not financial advice, please DYOR prior to any investment decisions you make.