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Housing Heating Up + 30 Minutes of Awesome Coming Right Up

 
   
     
   
 
APR 11 2023
 
 
Housing Heating Up + 30 Minutes of

Awesome Coming Right Up
   
SCOTT WELSH
Ready to Breakout
 

As we recently talked about, housing is hot right now.

Which seems kind of weird.

Aren’t mortgage rates rising?

Aren’t we about five minutes from a horrible recession?

Aren’t housing prices already too high?

Yes, probably, and yes.

But we don’t live in a sensical trading world right now. Up is down and down is up. 

Trying to make sense of every trade could make our brains explode and miss trades.

Studies show it’s 62% more difficult to trade with an exploded brain.

So, in times like this, we need to put more weight on the charts.

And the charts say housing is scorching.

Take, DR Horton (DHI). It’s above the long-term moving average and it’s breaking above resistance (and breaking out of the famous cup-and-handle formation). 

It could be an entry above $100.60:
 
 

And don’t forget about its cohort, PulteGroup, Inc. (PHM):
 
 

PHM is looking similar and is also near a possible breakout entry point ($60.90).

Housing has a lot of momentum right now. It might be smart to listen to what the charts are telling us. 

Happy trading,

Scott
DON YOCHAM 
Can’t-Miss “Roundtable” Tomorrow,

11am ET!
 

Have bank liquidity concerns drifted into the background?

Three weeks to the next Fed meeting and Fed Futures are still favoring a 25 bps hike with a 69.8% likelihood.
 
 

Then a pause in June and rate cuts priced in for July.

What the markets expect is one thing. But Garrett Baldwin, Jack Carter and I will discuss our expectations for the FOMC’s future rate path and what the Fed could break next at tomorrow’s “Roundtable”.

Oh…and the Fed’s stress tests were a joke.

What the Fed will do (and has done) leads naturally to a discussion on deposit flight, yield curve compression, and mostly regional banks borrowing directly from the Fed.

Regional banks have been on the receiving end of the most aggressive rate hike in history. Like Buffett said, “when the tide goes out, you get to see who was swimming naked.” Garrett and Jack will help you focus on who kept their trunks on.

There’s also an M&A boom spreading through the U.S. oil patch. Oil drillers have made serious bank on lofty oil prices, leaving them with a pile of cash to plow into the U.S. shale drillers.

Will they go big or does woke politics – ahem…ESG investing – leave too much risk on the table?
 
 

Find out on tomorrow’s “Roundtable with Don Yocham.”

Oh…and note the new time at 11am ET.

Take What the Markets Give You.
 
Have you heard of The Pattern of

Death?
 

Check it out…
 
Basically it’s showing VNO moving higher for 5 straight days…

Then suddenly, plummeting into the great beyond!
 
JEFFRY TURNMIRE’S 30 MINUTES OF AWESOME 🎥
Why Big Tech Still Has Room to Run…

and More 
 
 
 

Algo’s going long and inflation data updates this week.

On tonight’s “30 Minutes of Awesome”, I’ll share my view and how it relates to the stock market.

And what you can do about it.

As always, I’ll also take your requests!

See you this evening at 5pm ET right here. 
   
 
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