The Homebuilders Are Done.
The homebuilders are completing a terminal move for a cyclical Elliott Wave (EW) corrective projection with bearish volume, RSI, and MACD divergences appearing.
Cyclical EW and TD supports are 22% and 55% lower.
This is occurring with the US real median house price now at the bubbly levels of 2006-07 versus US real wages and salaries. A similar decline as in 2007-11 for homebuilder stocks and US house prices is likely over the next 2-5 years.
Cyclical EW and TD supports are 22% and 55% lower.
This is occurring with the US real median house price now at the bubbly levels of 2006-07 versus US real wages and salaries. A similar decline as in 2007-11 for homebuilder stocks and US house prices is likely over the next 2-5 years.
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