Home Is Where The Heart Is:
They say one’s best investment they can make is their home. During COVID many upgraded their properties and a good indication of that was seen in the clever symbol POOL which ran from 160 in March 2020 to almost 600 last November. It has since retreated firmly and the chart of RH rose in a more robust fashion from 73 to over 730 between March 20′-April ’21 (it was set back at the 300 number this month). Others that reported earnings recently in the arena include WSM and home improvement retailers like HD and LOW. Below is the chart of the ITB, a pure play homebuilder ETF, and it could be coming in to fill in a gap that completed a bullish island reversal from the 11/9 session in the near term. Obviously, they are interest rate sensitive and the group exploded higher on 11/10 up 11% after a “tame” CPI reading. The ETF is still 30% off most recent 52-week highs and if this fund can get back above its 200-day SMA promptly it would be a good sign for the overall group.