The below chart is a weekly chart of Home Depot (Ticker: HD). The following data also applies to Lowes Companies and Builders FirstSource Inc.
The red wave forecast overlaid on the chart is a composite of inflation-related data. This data is exogenous, or “outside the influence of” the home improvement retail stocks.
There is a consistent ‘drumbeat’ to the inflation data and this directly affects stocks like Home Depot and Lowes.
There is also a 90% Blue Wave forecast overlaid on the chart that “agrees” with the red wave forecast.
Chart expands upon click. Members must be logged in to see full forecast.
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