Here is a fascinating look at homebuilders, US dollar, copper, inflation, gold and silver.
Homebuilders, US Dollar & Copper
June 6 (King World News) – The following is from Jason Goepfert at SentimenTrader: Homebuilders have been one of the few industries that has struggled to hold above its 50-day average. For the first time in 4 months, one of its longest streaks ever, the industry has moved into a medium-term uptrend.
While struggling with high lumber prices, a tight labor market and affordability issues, homebuilding stocks have started to perk up. For the first time in months, the SPDR S&P Homebuilders ETF (XHB) closed above its 50-day average.
The index it’s based on has history going back to 1999. In that time, there have been only two streaks when the index was below its average for longer than the streak that just ended.
… During the financial crisis, it popped above its 50-day and then promptly crashed. Other than that, the other times it added to its gains over the next couple of months…
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Jason Goepfert continues: The last two signals, in 2011 and 2016, were excellent heads-up that the worst of the selling pressure was over. The sample size is awfully small, but it seems to be a minor good sign for the sector.
Top Citi analyst Tom Fitzpatrick on Copper & the US Dollar
Copper Price Ready To Surge Higher Once Again?
US Dollar Mirroring Mega-Bearish Pattern From 2001!
And don’t forget the massive inflation…
Massive Commodity Inflation In The Past Year:
Crude oil: +40%
As Western central banks continue to temporarily suppress…
King World News note: But the central bank suppression of gold and silver will not last. What is important right now is the ramp up in inflationary pressures that are still to come. This is why interest rates are surging, along with oil and other commodities, which have ended a brutal bear market and begun a new bull market. All of this will be extremely bullish for gold and silver prices medium- to long-term as well as the shares of the high-quality companies that mine the metals.
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