Stocks held support last week, and the market could be pivoting toward potential rate cuts.
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Chart of the Day: DIY Giant Tries to Break Out Before Key Data
Home Depot could be attempting a breakout as investors await key industry data. The main patterns on today’s chart are the falling trendline and the 50-day moving average. HD is attempting to push through both. This is especially interesting because TradeStation data...
Housing Market Defies Higher Rates as Strong Demand Fuels Construction Boom
Housing stocks are down sharply this year as investors worry about higher interest rates. However activity on the ground continues to accelerate. The Commerce Department reported that February housing starts rose almost 7 percent to 1.77 million. It beat forecasts by...
Investors Shift to Safe Havens, Shunning Riskier Stocks as the Fed Taper Approaches
The S&P 500 fell yesterday, but a new kind of stock seems to be breaking out. Consumer staples, real estate investment trusts and utilities hit new 52-week highs on Monday, based on analysis of the SPDR funds tracking each sector. Meanwhile economically sensitive...
This Industry Is Holding Its Ground, Despite a Lot of Bad News This Week
Homebuilder stocks are holding their ground, despite enduring a lot of bad news this week. First, Home Depot (HD) crashed after reporting unexpectedly weak same-store sales. The National Association of Homebuilders next announced that business conditions had fallen to...
Housing Stocks Could Be Trying To Turn: Chart of the Day
Homebuilders have pulled back following a big rally. Now the chart could be lining up for another move to the upside. The Philadelphia Housing Index has been finding support at its 100-day simple moving average for the last two weeks. It’s also been holding a price...
Options Alert: Call Buyers Are Targeting a Fast Move in Home Depot
Someone's looking for DIY giant Home Depot to make a fast move this week. Heavy call volume was detected in the short-term weekly contracts expiring this Friday: About 15,000 2-July 320 calls were purchased, initially for $1 to $1.19. Premiums quickly rose to $1.30...
Housing Stocks Have Crashed — Just in Time for Mortgage Rates to Come Back Down?
Housing stocks rallied in early 2021 as Americans scrambled for new homes. Now they pulled back dramatically as lumber prices tumble and mortgages get more affordable. The chart below the Philadelphia Housing Index ($HGX) with the Stochastic Slow Indicator, a common...
Golden Crosses in Wireless Tower Stocks: Chart of the Day
Wireless-tower stocks have been in long-term uptrends as mobile devices and usage proliferate. American Tower is the largest of the three, followed by Crown Castle International and SBA Communications . AMT has moved sideways for the last year. It hit an all-time high...