This could be a leading indicator for what is to come. Let's keep an eye on it.
We do have a bearish divergence on the monthly RSI. It also is happening on the weekly as well.
It is to early to tell what direction it will go. We should expect a strong bounce from here and see where it goes.
Best regards.
XHB may come down to the 200-day simple moving average (yellow line) and wick below but I think the next 8W candle will be green.
I think market sentiment is overly negative. Expectations for inflation is as high as in Q4 2022 when inflation was very high in the US. If the interest rates, go up further then this will finally harm employment levels and reduce...
Macro Monday
SPDR Home builders ETF (XHB)
This equal weighted index tracks 35 holdings of the homebuilders segment of the S&P Total Market Index (TMI) and is spread across large, mid and small cap stocks.
These comprise of the Homebuilding sub-industry, and may include exposure to the Building Products, Home Furnishings, Home Improvement Retail, Home furnishing...
I wanted to touch base on the Homebuilders ETF, which I analyzed back on Jan 20, 2023
On jan 20, price broke out of its side-ways range finding support on the VAH and at the time of writing, testing the weekly of 69.65 as support.
Based on my Fib time levels, I am expecting a significant move around Feb 22, 2023.
If XHB plans on higher targets, I would like to...
Watch XHB here.
Reaching recent top, and looking too weak for much higher, if at all.
That 77 pivot needs to be retested soon. Liquidity is to the downside.
HD reports this week and will set the tone for this etf coming up.
If you look at the Building Permits Leading Indicator, new permits have been decreasing since January 2022. Housing Starts will confirm the same... New Home Sales have decreased since 2020... Building Permits usually lead Housing Completion by 8-16 months...
Additionally Interest Rates have nearly peaked, this will also slow down Developer Sentiment and Home...
I'm surprised to see such resilience in the RE market. As an investment banker in the field, I can tell you that things are turning sour really quickly. Banks are closed and projects are increasingly hard to sell without massive discounts as buyers try to cope with increased financing costs. Many developers will go bust in the coming quarters due to high leverage...
Look for these bearish patterns - once s&p volatility is over then can look to buy longs
These setups are good for about 2 months no more , they can and will vary
Diamond bottoms are a strong indicator. I believe there is a high probability of the breakout from this diamond will lead to its target around $76. As it gets closer, I think trailing stop losses on stocks would be a good strategy considering inflation continuing and monetary policy temporarily easing. More tightening will likely be necessary as a result of...
AMEX:XHB
US housing market, a key contributor to US economic growth via the wealth effect that will trickle down to consumer spending & confidence.
We can decipher its impact on the overall stock mkt via sentiment/technical analysis on2/2 The recent rally of the $XHB from 19 Oct 22 low to 22 Nov 22 has been accompanied by declining volume & underperformance...
