Housing stocks: What the charts say to watch before jumping in to the homebuilders rally

, chief equity strategist at Miller Tabak, says housing stocks may be overheating after their nearly two-month run.

"I turned positive on this group in late April when it made a nice higher high, but the ETF is really starting to get overbought here, very overbought in fact," Maley said on CNBC's "Clues as to housing stocks' next move could be found in the commodity market, he said. "One thing I'm really going to be watching for, where may be I want to get back into the groove, is the price of lumber. It's a great leading indicator for housing stocks, and it's been stuck in a bit of a sideways range in the last week after having a nice run," Maley said."So if it can break above its 200-day moving average, that should be a sign that the housing stocks are going to take another leg higher.

"You've already had tremendous support for the homebuilders because you had a shortage of homes going into the pandemic. Now you have low interest rates, but the fly in the ointment is that lenders are making it harder to get mortgages and that's going to be a challenge," Sanchez said during the same segment. "The support is there. It's just a question of how the banks become the bottleneck in this story.

TradingNation The only thing you need to watch is the fed and the treasury. They’re driving this entire train wreck anyways. Free markets and objective prices have left the building. Long ago.

TradingNation The only thing you need to watch is the fed and the treasury. They’re driving this entire rain wreck anyways. Free markets and objective prices have left the building. Long ago.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

Despite rally, 2020 to be worst year for stocks in nearly a decade: Reuters pollThis year will be the worst for many world stock markets in nearly a decade at least, although a majority of equity strategists polled by Reuters say top indexes will not revisit lows struck this March following an explosive rally since then. Good to see the bears are still alive. Polls and models are proving more & more WORTHLESS
แหล่ง: Reuters - 🏆 2. / 97 อ่านเพิ่มเติม »

Stock market live updates: Dow up 300, stay-at-home stocks sink, banks and retail rally“Turning the economy back on is much more challenging than turning it off.” 4 experts weigh in on reopening the economy. Looks to me like tech is about to start posting new all time highs again... dow is past the 618 in terms of recovery. All almost back to unnormal normal! Bullish. Markets up
แหล่ง: CNBC - 🏆 12. / 72 อ่านเพิ่มเติม »

Why Rising U.S.-China Tensions Are The Biggest Threat To The Stock Market RallyTwo threats to the stock market rally are China’s growing belligerence and the slow reopening from COVID-19 lockdown in big states, such as New York, Illinois and California. Over 100,000 dead in the USA in 10 weeks from Coronavirus, 41 million unemployed, 25% of workforce out of work, several small companies going out of business permanently, and bankruptcies and evictions soaring. No cure or vaccine. Country is more divided than ever. balloon or Harley, if you had to choose one, which would it be
แหล่ง: Forbes - 🏆 394. / 53 อ่านเพิ่มเติม »