Home Still Where The Heart Is?
With the ITB and XHB plunging toward their 200-day SMAs, not aided at all by the dizzying pace of mortgage rates, the American dream is under siege. It is taking its toll on periphery housing plays as well. The clever and self-explanatory symbols of DOOR and POOL are shutting and sinking, pun intended, respectively, unable to buck the market trend. LESL is a catastrophe now trading near 5 after being briefly above 30 a few weeks after coming public in late 2021. Below is the chart of HD and it is dealing with shoplifting issues as well as a stock PRICE that feels weighted down. It is down 5 of the last 7 weeks, including a current 4-week losing streak (its first in almost 2 years), and prior to mid-August, it had gone the first 8 months of 2023 without recording consecutive WEEKLY losing streaks. This decline feels as rapid as the 10-year rise, and the velocity of both is very concerning.