http://MikesDailyMarketReport.com: Consumer Sentiment grew to 96.8 (from 95.7) in November. Also, Markit Manufacturing PMI flash rose from 51.3 to 52.2 in November. The other Markit report is on the Services Industry, which is the Markit Non-Manufacturing PMI flash, which rose from 50.9 tp 51.6. Both indexes indicate expansion, as they're above 50 (anything below 50 is considered contraction with these reports). Stocks are trading in Mixed Territory, as both Presidents Xi and Trump indicated a Trade deal is very close. The Markit PMI data out of Europe was very poor, as UK is still in Contraction territory, while EU is teetering on Contraction. MBS is Up 2bps and still trying to break above it's Fibonacci level, which is proving to be very strong. Mortgage Rates remain Unchanged. Yields are still sitting between it's ceiling of 100 DMA/Fibonacci and floor of 50 DMA. It's currently at 1.76% We may want to pay close attention to the Stochastic Chart, as it's showing a possible Trend Reversal. Be cautious, if you're floating any transactions that the rates are not locked!
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