U.S. Home Construction ETF ITB

U.S. Home Construction ETF closed up by 2.99% to 68.83 on 23 January 2021 and +0.38% on a weekly basis. U.S. Home Construction ETF momentum was last calculated at -100.0/100 indicating negative momentum. U.S. Home Construction ETF trend is -25.0/100 indicating a negative trend. U.S. Home Construction ETF momentum exhaustion is 0.77774 indicating U.S. Home Construction ETF is oversold.U.S. Home Construction ETF RSI is 41.6741 .

U.S. Home Construction ETF ITB Chart

U.S. Home Construction ETF ITB

U.S. Home Construction ETF ITB Statistics

MacroVar multi-factor statistical models monitor financial factors which are used to analyze and predict the U.S. Home Construction ETF. Click here to explore the financial factors monitored and their current signals.

Click here to explore the methodology used for estimating the U.S. Home Construction ETF trading signals presented in the U.S. Home Construction ETF statistics table.

Security Symbol Last Momentum Trend Oscillator RSI 1D% 1W% 1M% 1Y%
U.S. Home Construction ETF ITB 68.83 -1 -0.25 0.77774 41.6741 2.99 0.38 -5.63 0.21766

U.S. Home Construction ETF closed at 68.83 on 23 January 2021. U.S. Home Construction ETF trend was last calculated at -25.0/100 (range: -100 to +100) indicating a negative trend based on MacroVar models. U.S. Home Construction ETF momentum was last calculated at -100.0/100 (range: -100 to +100) indicating negative momentum. U.S. Home Construction ETF momentum exhaustion is 0.77774 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating U.S. Home Construction ETF is oversold and a possible reversal is imminent. U.S. Home Construction ETF RSI was last calculated at 41.6741. U.S. Home Construction ETF moving averages were last recorded as follows: 1-month moving average: 56.1335 in a downtrend , 1-quarter moving average: 56.1087 in a downtrend and 1-year moving average: 47.5982 in an uptrend. U.S. Home Construction ETF annual return was last recorded at None%, daily return was last recorded at 2.99%, and weekly return was last recorded at 0.38%. U.S. Home Construction ETF histrorical 20-day volatility was last recorded at 23.8765%, U.S. Home Construction ETF alpha None, U.S. Home Construction ETF beta None and U.S. Home Construction ETF maximum drawdown was recorded at None%. MacroVar models monitor U.S. Home Construction ETF statistics based on historical data since 1970.

U.S. Home Construction ETF ITB News

U.S. Home Construction ETF Factors

U.S. Home Construction ETF

Factor Symbol Last Value Predicted Value R2 MacroVar Signal
ITB vs Permits MX.FACT.STPMI
ITB vs US30Y ITB.FACT.US30Y
ITB ETF vs IBOXX (Construction) ITB.FACT.CR 44.27

United States Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
S&P 500 SPX 4358.69 0 0.75 -2.6 72.32 -0.36 2.64 4.09 0.35798
S&P 500 ETF SPY 434.55 0.5 1 1.55493 58.155 -0.39 2.7 4.06 0.14736
US Dollar Index (DXY) DXY 92.75 0 -1 -0.5352 43.8176 0.37 1.03 2.36 -0.07489
United States 10-Year Bond Yield US.10Y 1.29 -0.5 0.25 0.11307 51.7114 -4.09 -13.19 -19.85 -0.49589
US 5-year bond yield US.5Y 0.74 -0.5 -0.25 -0.37083 46.288 -7.38 -16 -13.02 -0.78074
US 30-year bond yield US.30Y 1.94 -0.5 0.25 0.42814 49.6785 -1.72 -8.01 -15.24 -0.28429
iShares 20+ Year Treasury Bond ETF TLT 148.1 -0.5 -0.5 -0.41513 43.3466 0.84 3.1 7.07 0.13041
iShares iBoxx $ Investment Grade Corporate Bond LQD 135.27 -0.5 0.5 0.8286 46.445 0.3 1.11 3.35 0.06823
iShares iBoxx $ High Yield Corporate Bond HYG 87.73 0.5 0.75 0.93656 61.2482 -0.14 0.08 0.29 -0.01112
iShares 7-10 Year Treasury Bond ETF IEF 117.13 -0.5 -0.5 -0.03907 45.3845 0.55 1.52 2.84 0.07499
SPDR Barclays High Yield Bond JNK 109.64 1 0.75 0.9771 62.5206 -0.12 0.13 0.58 -0.00992
iShares TIPS Bond (TIP) TIP 128.7 0.5 1 1.32977 74.3114 0.07 0.81 1.28 0.08835
US 2-year bond yield US.2Y 0.21 -1 -1 -0.55223 42.4592 -6.67 -20.75 27.97 -0.92399
US Yield Curve US.YC 1.08 0 1 1.74858 55.6394 -3.57 -11.55 -25.28 1.91241
US Yield Curve 2s5s US.YC25 0.53 0 0.5 1.38639 50.8504 -7.67 -13.96 -22.82 3.08475
US Yield Curve 5s10s US.YC510 0.55 0 1 1.84348 58.6679 -0.18 -9.69 -27.56 1.73529
US Yield Curve 5s30s US.YC530 1.2 0 0.75 1.21768 52.8329 2.13 -2.28 -16.56 0.9709
US Yield Curve 10s30s US.YC1030 0.65 -1 -0.5 0.52721 45.0387 4.17 5.01 -4.26 0.5283
US Yield Curve 2s30s US.YC0230 1.73 0 0.75 1.31448 52.3027 -1.09 -6.18 -18.58 1.14607

United States Economic Indicators

Indicator Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
balance of trade -74448 -70518 0.0557305 0.575853 -1.0 -1.0 0.966667 2021-03-31
bank lending rate 3.25 3.81 -0.146982 -0.409091 -1.0 -1.0 0.0166667 2020-04-30
building permits 1598 1683 -0.050505 0.233025 -1.0 1.0 0.95 2021-06-30
business confidence (ISM) 60.6 61.2 -0.00980392 0.152091 1.0 1.0 0.783333 2021-06-30
capacity utilization 74.9 74.3914 0.00683681 0.166002 1.0 1.0 1 2021-04-30
capital flows 146400 72638 1.01547 -0.587987 1.0 -1.0 0.433333 2021-03-31
car registrations 386.98 412.61 -0.0621168 1.11728 1.0 1.0 1 2021-04-30
case shiller home price index 257.1 251.79 0.021089 0.148999 1.0 1.0 1 2021-04-30
composite pmi 63.7 68.7 -0.0727802 0.329854 1.0 1.0 0.95 2021-06-30
consumer confidence 80.8 85.5 -0.0549708 0.114483 -1.0 1.0 0.95 2021-07-31
consumer price index cpi 270.98 268.55 0.00904859 0.0532412 1.0 1.0 1 2021-06-30
continuing jobless claims 3731 3794 -0.0166052 -0.279034 -1.0 -1.0 0.483333 2021-04-30
core inflation rate 4.5 3.8 0.184211 2.75 1.0 1.0 1 2021-06-30
core pce price index 116.581 116.023 0.00480939 0.033932 1.0 1.0 1 2021-05-31
core Producer Price Index 124.8 123.6 0.00970874 0.0558376 1.0 1.0 1 2021-06-30
current account -188484 -180917 0.0418258 0.671417 -1.0 -1.0 0.983333 2020-10-01
current account to gdp -3.1 -2.2 0.409091 -0.340426 -1.0 1.0 0 2020-01-31
durable goods orders 2.3 -0.8 -3.875 -0.847682 -1.0 -1.0 0.583333 2021-05-31
durable goods orders ex defense 1.7 0.5 2.4 -0.886667 -1.0 -1.0 0.516667 2021-05-31
durable goods orders ex transportation 0.3 1.7 -0.823529 -0.925 -1.0 -1.0 0.616667 2021-05-31
exports 200030 187589 0.0663205 0.0805774 1.0 1.0 0.916667 2021-03-31
external debt 21764800 21358300 0.0190324 0.134712 1.0 1.0 0.5 2021-01-01
fiscal expenditure 623359 595698 0.0464346 -0.435823 1.0 -1.0 0.0166667 2021-06-30
foreign direct investment 53916 47457 0.136102 0.252462 1.0 1.0 0.616667 2021-01-01
foreign exchange reserves 141810 141120 0.00488946 0.0723765 1.0 1.0 0.833333 2021-05-31
gdp 20936.6 21433.2 -0.0231697 0.423019 1.0 1.0 0 2020-01-31
Real GDP 19086.4 18794.4 0.0155365 0.0299992 1.0 1.0 0.266667 2021-01-01
gdp growth 6.4 4.3 0.488372 0.684211 1.0 1.0 0.866667 2020-11-01
gdp growth annual 0.4 -2.4 -1.16667 -0.870968 1.0 -1.0 0.216667 2020-11-01
gold reserves 8133.46 8133.5 -0.00000491793 0 -1.0 -1.0 0.55 2020-07-01
government budget -14.9 -4.6 2.23913 3.80645 -1.0 -1.0 0.916667 2020-01-31
Government budget -226000 -660000 -0.657576 -0.693776 1.0 1.0 0.15 2021-04-30
government debt 28529400 28199000 0.0117167 0.0775082 1.0 1.0 0.716667 2021-06-30
government debt to gdp 107.6 106.9 0.00654818 0.589365 1.0 1.0 0.75 2019-02-28
government revenues 449000 463745 -0.0317955 0.864393 1.0 1.0 0.966667 2021-06-30
housing starts 1643 1546 0.0627426 0.290652 1.0 1.0 0.916667 2021-06-30
imports 274478 258107 0.0634272 0.181277 1.0 1.0 1 2021-03-31
industrial production 16.5 1 15.5 -2.01227 1.0 1.0 0.2 2021-04-30
industrial production mom 0.7 2.4 -0.708333 -1.05512 -1.0 1.0 0.516667 2021-04-30
inflation cpi 5.4 5 0.08 8 1.0 1.0 0.966667 2021-06-30
inflation expectations 4.8 4 0.2 0.791045 1.0 1.0 1 2021-06-30
interbank rate 0.13 0.14 -0.0714286 -0.35 -1.0 -1.0 0.0166667 2021-06-02
interest rate 0.25 1.25 -0.8 -0.9 -1.0 -1.0 0.0166667 2020-03-15
job offers 9209 9193 0.00174045 0.690655 1.0 1.0 0.983333 2021-05-31
jobless claims 385 406 -0.0517241 -0.45927 -1.0 -1.0 0.2 2021-05-29
loans to private sector 2487.89 2546.98 -0.0232 -0.142125 -1.0 -1.0 0.0333333 2021-06-30
long term unemployment rate 2.47 2.33 0.0600858 1.83908 1.0 1.0 0.866667 2021-06-30
manufacturing pmi 62.1 62.1 0 24.7 UP UP 99.17 2021-08-06
money supply m0 6041900 6042100 -0.0000331011 0.173292 1.0 1.0 0.783333 2021-05-31
money supply m1 19221.7 18935.2 0.0151306 2.7968 1.0 1.0 0.95 2021-05-31
money supply m2 20370.1 20108.6 0.0130044 0.139879 1.0 1.0 0.783333 2021-05-31
mortgage rate 3.09 3.15 -0.0190476 -0.034375 -1.0 -1.0 0.633333 2021-07-09
nahb housing market index 83 82 0.0121951 1.76667 1.0 1.0 1 2021-04-30
new home sales 1021 846 0.206856 0.668301 1.0 1.0 1 2021-03-31
non manufacturing pmi 62.7 63.7 -0.0156986 0.5 1.0 1.0 1 2021-04-30
Producer Price Index 123.8 123.1 0.00568643 0.0617496 1.0 1.0 1 2021-04-30
PPI Index 6.2 4.2 0.47619 -5.13333 1.0 1.0 0.0333333 2021-04-30
retail sales MoM 10.7 -2.9 -4.68966 -2.27381 1.0 1.0 0.233333 2021-03-31
retail sales 51.2 29 0.765517 -3.57286 1.0 1.0 0.05 2021-04-30
retail sales ex autos -0.8 9 -1.08889 -0.947368 -1.0 1.0 0.416667 2021-04-30
services pmi 70.1 64.7 0.0834621 0.869333 1.0 1.0 0.983333 2021-05-30
total vehicle sales 18.5 17.7 0.0451977 1.15116 1.0 1.0 1 2021-04-30
unemployment rate 6.1 6 0.0166667 -0.585034 -1.0 -1.0 0.0166667 2021-04-30
youth unemployment rate 11 11.1 -0.00900901 -0.59854 -1.0 -1.0 0.0166667 2021-04-30
Effective Federal Funds Rate 0.06 0.07 -0.142857 0.2 -1.0 1.0 0.35 2021-05-01
BofA Merrill Lynch US High Yield Option-Adjusted Spread 3.21 3.23 -0.00619195 -0.041791 -1.0 -1.0 0.25 2021-06-11
BofA Merrill Lynch US Corporate BBB Option-Adjusted Spread 1.11 1.12 -0.00892857 -0.0176991 -1.0 -1.0 0.433333 2021-06-11
University of Michigan Consumer Sentiment 88.3 84.9 0.0400471 0.229805 1.0 1.0 1 2021-04-01
5-Year Breakeven Inflation Rate 2.65 2.53 0.0474308 2.44156 1.0 1.0 0.983333 2021-05-01
BofA Merrill Lynch US Corporate Master Option-Adjusted Spread 0.9 0.91 -0.010989 0 -1.0 -1.0 0.791667 2021-06-11
BofA Merrill Lynch US High Yield BB Option-Adjusted Spread 2.32 2.34 -0.00854701 -0.0491803 -1.0 -1.0 0.25 2021-06-11
Federal Funds Target Range - Lower Limit 1 1 0 -0.333333 -1.0 -1.0 0.108333 2020-03-14
Cass Freight Index Shipments 1.269 1.178 0.0772496 0.352878 1.0 1.0 1 2021-05-01
ism manufacturing Employment index 50.9 55.1 -0.076225 0.58567 1.0 1.0 0.983333 2021-05-31
ism manufacturing index 61.2 60.7 0.00823723 0.419954 1.0 1.0 0.983333 2021-05-31
ism non manufacturing employment 55.3 58.8 -0.0595238 0.738994 1.0 1.0 0.983333 2021-05-31
ism non manufacturing index 72.4 62.7 0.154705 0.594714 1.0 1.0 1 2021-05-31
ism non manufacturing new orders index 63.9 63.2 0.0110759 0.52506 1.0 1.0 0.983333 2021-05-31
ism non manufacturing prices index 80.6 76.8 0.0494792 0.44964 1.0 1.0 0.983333 2021-05-31
ism manufacturing New Orders Index 67 64.3 0.0419907 1.10692 1.0 1.0 0.983333 2021-05-31
ism non manufacturing business Activity 66.2 62.7 0.0558214 0.614634 1.0 1.0 0.983333 2021-05-31
ism manufacturing Production Index 58.5 62.5 -0.064 0.762048 -1.0 1.0 0.983333 2021-05-31
ism manufacturing Supplier Deliveries Index 78.8 75 0.0506667 0.158824 1.0 1.0 0.8 2021-05-31
ism manufacturing Inventories Index 50.8 46.5 0.0924731 0.00793651 1.0 1.0 0.466667 2021-05-31
ism manufacturing Customers inventories Index 28 28.4 -0.0140845 -0.393939 -1.0 -1.0 0.0333333 2021-05-31
ism manufacturing Prices Index 88 89.6 -0.0178571 1.15686 1.0 1.0 0.966667 2021-05-31
ism manufacturing Backlog of Orders Index 70.6 68.2 0.0351906 0.848168 1.0 1.0 1 2021-05-31
ism manufacturing Exports Index 55.4 54.9 0.00910747 0.402532 1.0 1.0 0.983333 2021-05-31
ism non manufacturing Inventories Index 51.5 49.1 0.0488798 0.0729167 -1.0 1.0 0.883333 2021-05-31
ism non manufacturing supplier deliveries Index 70.4 66.1 0.0650529 0.0507463 1.0 1.0 0.633333 2021-05-31
ism non manufacturing order backlog Index 61.1 55.7 0.0969479 0.31681 1.0 1.0 1 2021-05-31
ism non manufacturing New Export Orders 60 58.6 0.0238908 0.445783 1.0 1.0 0.983333 2021-05-31
ism non manufacturing Inventory Sentiment Index 40.5 46.8 -0.134615 -0.264973 -1.0 -1.0 0.0166667 2021-05-31
US Consumer Confidence Index 117.2 117.5 -0.00255319 0.364377 1.0 1.0 0.983333 2021-05-31
Leading Economic Indicator Conference Board index 113.3 111.5 0.0161435 0.169247 1.0 1.0 1 2021-04-30
Coincident Economic Indicator (CEI) - Conference Board 104.1 103.8 0.00289017 0.119355 1.0 1.0 1 2021-04-30
Lagging Economic Indicator (Lagging) - Conference Board 104.7 102.8 0.0184825 -0.0935065 -1.0 -1.0 0.0166667 2021-04-30
US Citigroup Economic Surprise Index 13 4 2.25 -0.835443 -1.0 -1.0 0.316667 2021-06-04
Build Permits United States 1760 1755 0.002849 0.608775 1.0 1.0 1 2021-04-01
ECRI US Weekly Leading Index 159.5 159.1 0.00251414 0.0562914 1.0 1.0 0.716667 2021-05-21
ECRI US Coincident Index 195.5 194.5 0.00514139 0.194988 1.0 1.0 1 2021-04-01
ECRI US Lagging Index 213.8 212.8 0.00469925 -0.0631025 1.0 -1.0 0.0833333 2021-04-01
University of Michigan Consumer Sentiment Expected Index 82.7 79.7 0.0376412 0.179743 1.0 1.0 1 2021-04-30
University of Michigan Consumer Sentiment Current Index 97.2 93 0.0451613 0.30821 1.0 1.0 1 2021-04-30
ICE BofAML US High Yield Master II 3.28 3.28 0 -0.0352941 -1.0 -1.0 0.233333 2021-06-04
BofAML US High Yield CCC or Below Option-Adjusted Spread 6.31 6.32 -0.00158228 -0.0322086 -1.0 -1.0 0.15 2021-06-04
Federal Funds Rate 0.09 0.09 0 0 UP Down 60 2021-01-12
S&P/Case-Shiller 10-City Composite Home Price Index 248.14 244.258 1.59 7.54 UP UP 100 2021-01-13
S&P/Case-Shiller 20-City Composite Home Price Index 235.46 231.715 1.61 7.93 UP UP 100 2021-01-13
S&P/Case-Shiller 20-City Home Price Sales Pair Counts 180935 194048 -6.76 17.31 UP UP 91.67 2021-01-13
ism manufacturing sector - apparel 13 5 1.6 3.33333 1.0 1.0 0.983333 2021-05-03
ism manufacturing sector - Computer & Electronic Products 6 11 -0.454545 -1.6 -1.0 1.0 0.191667 2021-06-01
ism service sector - accomodation 13 17 -0.235294 -2.44444 1.0 1.0 0.0833333 2021-06-03
NY Empire state Manufacturing 52.1 56.3 -0.0746004 0.0831601 1.0 1.0 0.416667 2020-11-30
United States Dallas Fed Services Index 52.1 56.3 -0.0746004 0.0831601 1.0 1.0 0.416667 2020-11-30
U.S. Chicago Purchasing Managers Index 52.1 56.3 -0.0746004 0.0831601 1.0 1.0 0.416667 2020-11-30
US Richmond Fed Manufacturing 52.1 56.3 -0.0746004 0.0831601 1.0 1.0 0.416667 2020-11-30
US Kansas Fed Manufacturing 52.1 56.3 -0.0746004 0.0831601 1.0 1.0 0.416667 2020-11-30
US Dallas Fed Manufacturing 52.1 56.3 -0.0746004 0.0831601 1.0 1.0 0.416667 2020-11-30
US Philadelphia Fed Manufacturing 52.1 56.3 -0.0746004 0.0831601 1.0 1.0 0.416667 2020-11-30
Import Dry Bulk Freight Index(CDFI) 1676.29 1671.71 0.00273971 0.0780763 1.0 1.0 1 2021-08-06
Coastal Bulk (Coal) Freight Index (Daily Index) 1042.99 1034.34 0.00836282 0.0671503 1.0 1.0 0.716667 2021-08-06
Coastal Bulk Freight Index CBF-IDX-SSE 1239.03 1229.26 0.00794787 -0.141964 1.0 -1.0 0.666667 2021-08-06
Shanghai Containerized Freight Index SCF 4225.86 4196.24 0.0070587 0.263964 1.0 1.0 1 2021-08-06
Containerized Freight Index CCF 3006.82 2930.03 0.0262079 0.408762 1.0 1.0 1 2021-08-06

U.S. Home Construction ETF Trading Signals


MacroVar estimates the following signals: U.S. Home Construction ETF momentum, U.S. Home Construction ETF trend, U.S. Home Construction ETF oscillator, U.S. Home Construction ETF RSI and U.S. Home Construction ETF returns.

U.S. Home Construction ETF Momentum

Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVarU.S. Home Construction ETF momentum signal ranges from -100 to +100. The U.S. Home Construction ETF momentum signal is derived as the mean value from 4 calculations for the U.S. Home Construction ETF. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. U.S. Home Construction ETF return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. U.S. Home Construction ETF ITB momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when U.S. Home Construction ETF momentum signal moves from positive to negative value or vice-versa.

U.S. Home Construction ETF trend

U.S. Home Construction ETF trend signal ranges from -100 to +100. U.S. Home Construction ETF trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. U.S. Home Construction ETF Closing price vs U.S. Home Construction ETF moving average (MA) calculation: If U.S. Home Construction ETF is greater than U.S. Home Construction ETF MA value is +1, else -1, 2. U.S. Home Construction ETF Moving average slope calculation: if current U.S. Home Construction ETF moving average is higher than the previous MA, U.S. Home Construction ETF upward slope +1, else -1
U.S. Home Construction ETF trend model can be used as a trend strength indicator. U.S. Home Construction ETF trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when U.S. Home Construction ETF trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The U.S. Home Construction ETF 52-week simple moving average and its slope are the most important indicators defining a market’s trend. U.S. Home Construction ETF is in an uptrend when U.S. Home Construction ETF price is higher than the 52-week moving average and the U.S. Home Construction ETF 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the U.S. Home Construction ETF oscillator and U.S. Home Construction ETF RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

U.S. Home Construction ETF oscillator

The U.S. Home Construction ETF oscillator estimated by MacroVar is the z-score of the current U.S. Home Construction ETF price versus U.S. Home Construction ETF 1-year simple moving average price. The formula for the U.S. Home Construction ETF oscillator is:
U.S. Home Construction ETF oscillator = (Current Price – 250 trading days U.S. Home Construction ETF simple moving average price) / (250 days U.S. Home Construction ETF price standard deviation)

U.S. Home Construction ETF oversold conditions
U.S. Home Construction ETF is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the U.S. Home Construction ETF is oversold it is often due for a rebound. Values of the U.S. Home Construction ETF oscillator lower than -2.5 signify oversold conditions. It must be noted that the U.S. Home Construction ETF oscillator must be analyzed ibn conjunction with the rest of U.S. Home Construction ETF quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the U.S. Home Construction ETF RSI.
U.S. Home Construction ETF overbought conditions
U.S. Home Construction ETF is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the U.S. Home Construction ETF is overbought it is often due for a correction. Values of the U.S. Home Construction ETF oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the U.S. Home Construction ETF quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

U.S. Home Construction ETF RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when U.S. Home Construction ETF is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During U.S. Home Construction ETF uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

U.S. Home Construction ETF returns

MacroVar calculates U.S. Home Construction ETF returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

U.S. Home Construction ETF returns = (U.S. Home Construction ETF Closing Price – U.S. Home Construction ETF Previous Price)/(U.S. Home Construction ETF Previous Price)
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