The importance of consumers in the U.S. economy cannot be stressed enough. Real personal consumption expenditures (PCE) accounted for 68.6 percent of gross domestic product in the third quarter. Five decades ago, PCE’s share was nine points lower. Put another … Continued
ITB, the iShares Home Construction ETF, has broken out. Support at $26 goes back to May 2013, and was defended several times during late April and early June. Since late April, ITB had also been trading within an ascending channel. … Continued
The SPDR Consumer Discretionary ETF (XLY) went through a lot last week – down 2.4 percent, as media and consumer discretionary stocks like Walt Disney (DIS) took it on the chin. On a weekly basis, the ETF is overbought and … Continued
Hindsight is always 20/20. Back on June 1 when I hypothetically wrote a June 5th weekly 76.50 naked call on the SPDR Consumer Discretionary ETF (XLY), it turned out to be a dud trade. The idea was to generate income, … Continued
AAPL set to join Dow brings out ‘this is top’ talk Historically, tough to argue Dow inclusion ensures top If AAPL peaks, it will be for other business-related reasons AAPL (127.14) is slated to replace T in the Dow Jones … Continued
U.S. home builder sentiment chirpy, near multi-year highs Just a matter of time before sentiment follows home sales/starts lower Stocks follow builder sentiment; ITB perilously close to breaking crucial support Hope springs eternal. U.S. home builders are an optimistic bunch. … Continued