Good news bad for markets.... Quite obvious once again that this market is holding up on cheap money and not on fundamentals.....
Housing numbers were impressive and market flopped on the release......Increased concerns that earnings/revenue growth is not supportive of this overbought market in tandem with interest rate concerns is fuelling a little pressure on equities....
I'm certain that big money is nearing a turning point.....they realise that the only way to make further gains in this market is to sell it much lower and create panic in order to re-enter at much lower level for the next push higher....
I'm still calling a 10%+ correction by May 15....HVU could easily revisit the $10 level IMHO....If global tensions increase and Greece defaults and exits Euro then HVU may revisit $12-$14....