Continuation of uptrend on weekly. volume looks solid as well.
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.
I have two setups on this one. Stock is gaping up on earnings today. Because of that, I'm not sure if it will pull all the way back to the lower entry @ $20.00 One could consider having both orders open and cancelling the lower entry if we don't get a pullback that far. If we do, there is a good chance the the higher entry idea gets stopped out. Entry 1: 20.40...
1. Bullish Engulfing 2. Bounce on support (double support) 3. Short term bullish divergence
Just recently had a BB reversal. EMA's are bullish with great angles. SMA's crossed bullish recently. Stochastics is gaining momentum and not overbought. RSI is headed higher nearing oversold. MACD is above the zero line and trending higher as well. ADX looks like it's agreeing with the move higher at 33 and a sharp angle upward. Volume has been gaining the last...
Housing is coming into it's slow season, every number around housing is declining or down tremendously YOY. The FED and the presstitute media have been proping up housing as it represents the line in the sand for the economy sentiment. Housing gonna implode... and it may take the market with it, as the S&P ran up to an all time high in only 19 days... a new...
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...
Home prices are falling, less and less applications for homes, and rising interest rates... nothing is going well for the housing hangover...