In last year's big move up SPY trailed DJT (Dow Jones Transportation Index) and XHB (A Homebuilders ETF) by 2-months and 1-month respectively. In November, DJT crashed. In December, XHB crashed. It's January now. If nothing is being delivered, and homebuilders have no one to sell to that can't be good for the greater market.
Trade closed: target reached
SPY dropped all the way to $555.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.