ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Housing Market Intro/Summary After writing the last Housing Market Review, I was convinced a triple top had appeared in the iShares US Home Construction ETF (ITB). The May sell-off in the stock market pushed ITB into a breakdown below its 50-day moving average (DMA). Immediately after that post, ITB rebounded right through its 50DMA and … Read more
Housing Market Intro/Summary In several posts on the housing market, I made the case for a top in the stocks of home builders and pointed out the parallel weaknesses in the housing data. Last week, the iShares US Home Construction ETF (ITB) appeared to confirm what looks like a triple top in the index. Not … 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
Perhaps it is the pressure of having member companies whose stock trade on public markets. Perhaps it is a coincidental divide in politics. Whatever the explanation, the split in opinion on the impact of Republican tax reform on the housing market became even more stark this week as The National Association of Home Builders (NAHB) … 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