Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Stocks

A Red Bar on the Homebuilders ETF

by August 18, 2023
August 18, 2023
A Red Bar on the Homebuilders ETF

Homebuilders have been on an unbelievably big run. Looking at two relevant ETFs, we can see that one is at prior highs, while the other broke out to fresh new highs. Let’s start there.

XHB was recently at a prior high, and the ITB made newer highs. Amazingly, XHB — the homebuilders ETF — got within 0.01 cent of the prior high, then pulled back below the 10-week moving average on Thursday. Everything is still in an uptrend! The only real sign of weakness is the potential for a sell signal on the PPO.

The SCTR is still at 97.0, which is very strong.Relative strength compared to the $SPX is in purple, and is still near the highs. If it started to break the trend line from early April, that would be another signal of weakness.Price stalled at the prior high.Volume has been strong. This is after Thursday’s move, and Friday’s volume will be an Options Expiration, so it could have a big volume bar to finish the week.Full stochastic shows price still trading in the top of the range for the last 3 months of the year, so no real new news there.PPO is trying to hold on the uptrend, but will be very close to a sell signal.

That’s a pretty strong basket of signals.

ITB, the home construction ETF, looks a little different this week. Namely, this is the first red week on the price panel since the lows of last October! Price is still holding on the trend line, but the red bar is a warning.

All of the other trends recorded on the chart above are intact, with one exception: the PPO is already on a sell signal.

The real question to ask for me is whether or not this is the end of this big trend. I don’t know if it is or not, but all the trends are being tested. It’s a good time to be careful, in case it starts to break down.

0
FacebookTwitterGoogle +Pinterest
previous post
Trump seeks to delay federal election case until April 2026
next post
US Stocks Are Lagging The World For Now, But This Alternative Could Skyrocket

Related Posts

January 2024: The Final Bar’s Top 10 Must...

January 9, 2024

Week Ahead: NIFTY Takes A Breather After Seven...

December 23, 2023

Technical Correction? Or Return of the Bear Market?

September 6, 2023

DP Trading Room: Defensive Sectors Lead the Pack

February 25, 2025

Top 5 Stocks in “Go” Trends | Fri...

June 29, 2024

DP Trading Room: Intermediate-Term View of the Magnificent...

April 30, 2024

The Ord Oracle June 13, 2023

June 14, 2023

Seasonality Suggests a Massive Energy Market Shift This...

June 19, 2024

Biotechnology on Drugs

August 22, 2023

The Best Five Sectors, #6

February 11, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • CHARBONE Hydrogen Announces Closing of a Second and Final Tranche, Oversubscribing its $1M Non-Brokered Private Placement

    • CHARBONE Hydrogene annonce la cloture d’une deuxieme et derniere tranche de son placement prive sursouscrit sans intermediaire de 1 M$

    • Spartan Metals Announces Director and Officer Changes

    • Bold Ventures Discovers New Style of Mineralization on Its Wilcorp Property

    • Finlay Minerals Announces Non-Brokered Private Placement of Flow-Through and Non-Flow-Through Units

    Categories

    • Business (1,395)
    • Investing (2,990)
    • Politics (3,699)
    • Stocks (1,811)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved