Today’s Chart of the Day was shared on Twitter by @TradeTraders. It's a daily candlestick chart of the iShares Home Construction ETF, $ITB. The ETF is up nearly 50% year-to-date, and it closed at a new 52-week high today. Some of the top holdings in $ITB include: $DHI, $LEN, $NVR, $PHM and $SHW. As you can see from the chart, $ITB is trading above the 20, 50, and 200-day moving averages. In recent months, many have been warning that an economic slowdown or recession is on the horizon. However, if a recession is truely imminent, then Home Building stocks certainly didn't get the memo.
Chart of the Day - Wednesday, October 16th, 2019
October 16, 2019
