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Economic Indicators Are Testing Critical Levels

Published 11/07/2018, 02:33 PM
Updated 07/09/2023, 06:31 AM

US Concrete (left), SPDR S&P Homebuilders

The above 2-pack looks at a couple of very important sectors of our economy, Homebuilders (NYSE:XHB) and US Concrete (NASDAQ:USCR).

Both have been hit very hard this year, declining by large percentages. Both have been much weaker than the broad markets.

The declines this year have both tested 7-year rising channels at each (1).

If both break support at each (1), it's possible they could be suggesting the economy will be soft going forward.

Latest comments

thank you sir for the analysis, teaching us young bucks who don't know anything about the market, very humble, cheers
Great correlation, its things like this most miss as they are paying too much attention to the bigger sectors
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