The markets have plenty of news to feast on this week, beginning Monday with the National Association of Home Builders Housing Market Index, which will give us a near real-time read on builder confidence for this month. Housing Starts and Building Permits for November will be reported on Tuesday, while November’s Existing Home Sales and New Home Sales follow on Wednesday and Friday, respectively.

On Thursday, the latest Jobless Claims remain important to monitor, as does the final reading for third quarter GDP.

Ending the week, crucial inflation numbers for November will be reported Friday via the Fed’s favored measure, Personal Consumption Expenditures.

Technical Picture

Mortgage Bonds ended last week still trading in the middle of a wide range with a triple floor of support formed by the 25-day Moving Average, 100-day Moving Average and 100.758 Fibonacci level. The 10-year is battling with an important ceiling at the 100-day Moving Average and falling trendline that has been intact since late October. If this level is broken, there is a lot of room to the upside before reaching the next ceiling at 3.644%.