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This ETF tracking the housing market is undergoing a post-Fed breakout, according to the charts

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Assuming mortgage rates also come down over the next 12 months, this could create a perfect environment for homebuilders to thrive.

After listening to Federal Reserve Chair Jerome Powell's press conference this week, my main takeaway was that short-term rates will definitely be coming down through the course of 2024, and I should focus on areas of the market that would benefit from easier money for consumers. The charts back that up. The weekly chart of the iShares U.S. Home Construction ETF shows how the long-term trend has become quite strong off the October 2022 low.

Click here for the full disclaimer.This major ETF that's home to Meta and Disney is looking to break out again, according to the charts

 

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