ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
I normally wait until my monthly Housing Market Review to report housing data, but I made an exception for November’s NAHB/Wells Fargo Housing Market Index (HMI) which measures the aggregate of home builder sentiment. The plunge in sentiment delivered a timely exclamation point to all the other signs of a slowdown I have been observing … Read more
In most of my Housing Market Reviews this year, I chronicled the growing warning signs in the housing market and the on-going technical damage in the stocks of home builders. Until the last few months, I remained hopeful that a turn-around waited around the corner; I kept looking for the reassurances of the home builders … Read 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 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
The S&P 500 (SPY) printed its best quarter since the fourth quarter of 2013. While the index gained 7.2% for the third quarter of 2018, home builders went in the exact opposite direction. The iShares US Home Construction ETF (ITB) tumbled 7.4% for Q3 and is now down a whopping 20.9% year-to-date. The selling accelerated … Read more