ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The last Housing Market Review covered data reported in May, 2017 for April, 2017. At that time, the iShares US Home Construction (ITB) was testing support at its uptrending 50-day moving average (DMA) for the third time in May. ITB bounced nicely from there, but it just suffered its second largest one-day loss of the … Read more
The last Housing Market Review covered data reported in April, 2017 for March, 2017. At that time, the iShares US Home Construction (ITB) was at the high end of almost two months of churn which included a new 10-year high. ITB has not hit “escape velocity” from its price where the U.S. Federal Reserve last … Read more
The last Housing Market Review covered data reported in March, 2017 for February, 2017. At that time, the iShares US Home Construction (ITB) was at the bottom of what turned out to be a very shallow pullback from a near 10-year high. The subsequent recovery has been grinding and slow, but ITB now trades above … Read more
With the technicals on the stock market weakening ever so subtly, I concluded that now might be a good time to lock in the rest of my profits on the seasonal trade on home builders. However, an upgrade from RBC on Toll Brothers (TOL) breathed new life into the home builder rally. TOL benefited mightily … Read more
The last Housing Market Review covered data reported in January, 2017 for December, 2016. At that time, the iShares US Home Construction (ITB) was rebounding strongly from a brief pullback from an earnings-driven 6-month high. I described the setup as a coiled spring. The coiled spring did not release to great effect, but earnings from … Read more