Housing Market Review (May, 2018) - A Fresh Flicker of Life As Sentiment Turns Without A Change in Data. The housing data continue to plod along but the market for home builder stocks is suddenly warming up all over again. drduru.com $ITB $CCS $DHI $PHM $LEN $FPH $LGIH $MTH $XHB
Turning very bearish on the home builders. Increasing interest rates will increase costs. Delinquencies are rising and creditors are contracting. Most activity in mortgage applications is either refi - due from recent fall in 30-year, or existing home sales. Builders are falling behind and sales goals will not be met.
Tommy Mine likes it. Good candles on the daily and hourly.
DHI - appears to be a perfect gap and go. Clears a pivot. Black candle on Friday on the daily, hourly, 15, 5 min. We will look at the first 2 mins to see size of candle. IF they are small, we will take the 2 min high bullish and place stop below the 2 min low.