ITB Homebuilders 3x ETF, weekly chart has more room to run. Daily chart is ready for break out. Inverse H and S . LEN , KBH and DHI all had great earnings reports recently. Above $46.35 would be all time highs. The FED should be cutting rates again with the Oct 4th economic data, so more bullishness for homebuilders. Good luck!
See previous earnings with Reverse H&S similar to today's.
Both going into Monthly H&S, so we think after a nice pump from Reverse H&S B/O this am and a big profit we will be able to move to the short side with some very cheap puts. The green line (lower priced green line) is the measured move, but we will prob fall a bit short and then start reversing.
AT40 = 31.5% of stocks are trading above their respective 40-day moving averages (DMAs)
AT200 = 25.5% of stocks are trading above their respective 200DMAs (just off a 32-month low)
VIX = 21.2 (as high as 25.9)
Short-term Trading Call: cautiously bullish
I have become convinced that 2019 is going to deliver another one of those poor trading starts. The...
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...
A poor reaction to a hawkish Fed ended the overbought period at 2 days. The S&P 500 is now poised for a pullback.
A Fed Buzzkill Ends Ambitions for An Overbought Market drduru.com $SPY $QQQ #VIX #T2108 #AT40 $ITB $LEN $AAPL $TLT $DXY #forex
Home builder stocks are starting to diverge as housing data decelerates. Investors are showing interesting preferences even as all builders continue to tell similar stories. For more....
Housing Market Review (April, 2018) - Dissonance: Decelerating Housing Data and Diverging Home Builder Stocks...
Lennar has had an impressive performance record with a recovering economy and housing market.
The company's continued effort on Real Estate development and Financing is fueling sales growth.
Earnings should get a boost from cost cutting and operational efficiency efforts.
Sales, however, are expected to dampen in the quarter with 120 homes deliveries postponed...
higher time frame is showing range bound price action- negative divergence in rsi
closer look at mid time frame shows the transition from a range expansion to range contraction and selling volume pressure being applied along with negative momentum
lower time frame shows price action in that same range contraction apply pressure to the support area with multiple...
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.
Housing SUCKS. This is the SLOW season coming up, to make it worse. New housing apps down to lowest level in forever, everything about housing SUCKS. GREAT SHORT HERE.
Update 11/21: I was a little early on this short! I was happy to buy a few cheap $33.5 weekly puts for next week. I typically don't like to buy options at the end of the week to carry into the...