Posted on April 22, 2021
Today’s trade is brought to you by the New World Order – the same slime that wants you to give up all that’s meaningful in this world, and … well, just trust them.
Alan B. Harvard will have more to say about the so-called New Age in a coming letter, but today we’ve got more pressing business.
Today’s trade is pinned on the SPDR S&P Homebuilder ETF (NYSE:XHB), an ETF that’s only marginally related to homebuilding per se, and more geared toward materials and furnishings offerings like Lowe’s, Home Depot, et al.
Either way, though, the homebuilder run has been perfectly Babellian, and we believe the biblical crash and burn that followed that tower’s construction is about to be repeated.
Have a look at the WEEKLY chart for the last two years –
Many happy returns,