Housing permits hit a five-year high in October with home prices up 13.3 percent in September from a year earlier according to the Case-Shiller index. Building permits rose 6.2% in October to 1.034 million and were up 5.2% to 974,000 in September.
The 'flight to safety' exchange-traded funds for U.S. Treasury bonds, gold bullion, and dividend-rich utilities remain viable asset allocation choices for diversified investors.
Weak energy and volatile finance sectors question the sustainability of continued strength across all 11 S&P 500 sector exchange-traded funds.
The bulls continue to control the global markets, but all nine global averages do not have positive weekly charts and the leading averages have become overbought.