We anticipate a right shoulder completion no later than end of q3 2019, followed by a move down to the solid black trendline illustrated in our previous post (1985 to present). Eventual weekly chart target: ~$138.
Patterns observed in various homebuilder stocks, not limited to Home Depot, run concurrent with anticipated cyclical moves in US and International housing markets. A move down to the solid black trendline, within 2 years, would validate our overall macro view.
"Never forget, rallies are for selling/shorting. You're welcome, overleveraged gamblers with too much optimism."
Been bear-ish on the S&P500 and DJI + overall macro economy since Sept/October, anyone I've discussed trading/markets/economy around this time will know that I've been saying that the next "pop" is less than 12 months away, and have recently become...
Zillow Group is likely the RE game changer for changing the way RE is bought and sold from 5-7% commissions and today's housing markets. Not a Redfin fan for being a game changer, and Zillow still needs to figure out some things with FSBO (for sale by owner).
Down 43% from peak. 1/2 share entry and 1/2 share standing order lower, just thoughts for now. ...
If you take a look at the behaviour of the REI index before, during, and after the 2008 recession and present day. The REIT is in blue, the S&P500 is in red.
REI index is outpacing the S&P500
REI index is converging with the S&P500
the indices both fell together with the REI falling more aggressively
REI index recovers quicker and...
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. Almost like a cycle, a month later...