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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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Tuesday, July 31, 2012

Consumers All Shopped Out Amidst Rising Prices



Data for Store Sales released today shows that consumers reigned in their spending for the week, "driving the year-on-year to only +1.8% for one of the lowest rates of the recovery."


This was is spite of a rise in Personal Income for the month, while the price of goods (and housing) rose. Perhaps buyers are waiting for "back-to-school" sales before they part with any extra cash...or even paying off debt.


So far today, the credit card stocks are down from yesterday's close, as Visa pulls back from yesterday's all-time high...ones to watch for any further weakness developing.