One can’t help but laugh at headlines touting a huge 23.% jump in new home sales given that the “jump” was to the second worst month in history, dating back to 1963. Dave Rosenberg puts the headline jump into perspective in Housing Data Are Not Supportive.Market sentiment is positive and as a result of the market going straight up, people believe that the economic data are somehow getting better. Not the case at all. April new home sales were revised DOWN to a 422k annual rate …

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New Home Sales and Bear Market Math