ONE-TWENTY TWO: Trading Financial Markets
Since the year 2000, delivering a different narrative for students and fans of financial markets: stocks, options, currencies, Bitcoin, and more…
I saw a flicker of hope for home builders in the May Housing Market Review. Traders decided to snuff that flicker out very quickly afterward. When I wrote June’s housing market review and described a “struggling flicker,” the iShares US Home Construction ETF (ITB) was once again bouncing off the bottom of 2018’s trading range. … Read more
I saw a flicker of hope for home builders in the last Housing Market Review. Traders decided to snuff that flicker out very quickly afterward. Breakouts transformed into new tops and now the struggling flicker comes from home builder stocks holding support. The short-term path ahead looks like chop at best, especially with the latest … Read more
The Housing Market Index (HMI) for May increased to 70 and is just 4 points off its post-recession high set last December. Just don’t tell investors home builders are as confident as ever despite rising rates. Today, the yield on the 10-year U.S. Treasury bond soared to its highest level in 7 years and settled … Read more
The last Housing Market Review covered data reported in February, 2018 for January, 2018. At the time, I connected the dots on the bearish implications of converging technicals and fundamentals. The iShares U.S. Home Construction ETF (ITB) broke down below its 200-day moving average (DMA) in a very bearish move. Yet, the very next day, … Read more
The last Housing Market Review covered data reported in February, 2018 for January, 2018. At the time, I connected the dots on the bearish implications of converging technicals and fundamentals. The iShares US Home Construction ETF (ITB) actually managed to hold onto support at its 200-day moving average…until today. So not only is the seasonal … Read more
The last Housing Market Review covered data reported in January, 2018 for December, 2017. At the time, I described the ominous breakdown of the iShares U.S. Home Construction ETF (ITB), but I was not yet ready to connect the dots on the bearish implications. I am now. ITB has continued its breakdown by first severely … Read more
The last Housing Market Review covered data reported in December, 2017 for November, 2017. At the time, the iShares U.S. Home Construction ETF (ITB) was still recovering from a small dip caused by an earnings report from Toll Brothers (TOL) that disappointed the market. Housing data were strong and pointed to on-going bullishness. January launched … Read more
The last Housing Market Review covered data reported in November, 2017 for October, 2017. At the time, the iShares U.S. Home Construction ETF (ITB) traded at a 10+ year high with the angst of tax reform left far behind in the rear view mirror. The day after my post, Toll Brothers (TOL) reported earnings that … Read more
The last Housing Market Review covered data reported in September, 2017 for August, 2017. At the time, I described a growing rift between the data and the stocks of home builders. Instead of stumbling, housing stocks received a fresh breath of life and kicked up the momentum another notch higher in October. The iShares U.S. … Read more
The last Housing Market Review covered data reported in August, 2017 for July, 2017. At the time, I described a change in tone that made me wary and even got me anticipating a larger pullback. The iShares U.S. Home Construction ETF (ITB) was struggling below its 50-day moving average (DMA) since a 2-month period starting … Read more