Morning Journal-More government shenanigans

Economics

This Week’s Data

April new home sales rose 11,000 versus expectations of a 7,000 increase.
http://www.ritholtz.com/blog/2012/05/housing-permits-starts-completions-2/

Weekly jobless claims came in flat as anticipated.
http://www.calculatedriskblog.com/2012/05/weekly-initial-unemployment-claims_24.html

April durable goods orders rose 0.2% versus estimates of up 0.5%; ex transportation, they fell 0.6% versus forecasts of an increase of 0.7%.

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via allamericaninvestor.blogspot.com

Morning Journal - The Philly Fed ADS Business Conditions Index - All American Investor

This Week’s Data

The International Council of Shopping Centers reported weekly sales to major retailers down 1.7% versus the prior week but up 3.8% versus the comparable period last year; Redbook Research reported month to date retail chain store sales up 2.7% on a year over year basis.

April existing home sales rose 3.4% versus expectations of an increase of 2.6%.
http://scottgrannis.blogspot.com/2012/05/more-signs-of-housing-upturn.html
http://www.ritholtz.com/blog/2012/05/existing-home-sales-without-forclosures-prices-pop-10-1/

The May Richmond Fed manufacturing index came in at 4.0 versus estimates of 11.0 and April’s reading of 14.0.

Weekly mortgage applications rose 3.8% but purchase applications once again fell (-3.0%).

The Philly Fed ADS business conditions Index (short):
http://advisorperspectives.com/dshort/updates/Philly-Fed-ADS-Index.php

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via allamericaninvestor.blogspot.com

Alzheimers Caregiver Why are the Little Things Bothering You?

Why do persons with Alzheimer's act so odd?

Why are the behaviors so disconcerting and unsettling to us?

From: http://ping.fm/9YXvA

Can Omega-3 and Nutrients Prevent or Delay Alzheimer's Disease | Alzheimer's Reading Room

Can Omega-3 and Nutrients Prevent or Delay Alzheimer's Disease | Alzheimer's Reading Room

http://www.alzheimersreadingroom.com/2012/05/can-omega-3-and-nutrients-prevent-or.html

Computer Use and Exercise May Reduce the Odds of Memory Loss

The study examined exercise, computer use and the relationship to neurological risks such as mild cognitive impairment.

Alzheimer's Reading Room 

Combining mentally stimulating activities, such as using a computer, with moderate exercise decreases your odds of having memory loss more than computer use or exercise alone, a Mayo Clinic study shows. 

Previous studies have shown that exercising your body and your mind will help your memory but the new study, published in the May 2012 issue of Mayo Clinic Proceedings, reports a synergistic interaction between computer activities and moderate exercise in "protecting" the brain function in people better than 70 years old. 

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via alzheimersreadingroom.com

The Morning Call-Don't chase stock prices at these levels | All American Investor

The Market
Technical
The indices (DJIA 13213, S&P 1397) traded off yesterday but remained within their short term trading ranges (12919-13302, 1372-1422) and their intermediate term uptrends (11535-16535, 1210-1777). They also closed above their 50 day moving averages (13032, 1384). 

Volume rose; breadth was weak. The VIX was up and continues above the lower boundaries of its short/intermediated term trading ranges. 

GLD inched up again and remains above the lower boundaries of both its short term and intermediate term trading ranges.
http://www.zerohedge.com/news/todays-124-billion-targeted-gold-slam-down-makes-mainstream-press