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Home Builders and Real Estate both hit peaked last May. Did they peak due to concerns over rising interest rates? I suspect rising rates did have an impact. As you can see from both of these above, both peaked at the same time as each was hitting a key fibonacci resistance level of the 2009 financial crash.
Joe Friday….The Home builders index is facing a stiff falling resistance line and Real Estate ETF IYR might have formed a bearish head & shoulders top. How these two react here will tell us a ton about the health of this key sector, which impacts the economy in a big way!
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