Powell reiterated today that rate cuts are coming again at some point. In line with the positive action we’ve seen in homebuilders (I restacked an earlier note with the XHB 0.00%↑ chart), it looks like the real estate ETF XLRE 0.00%↑ might be ready to break out of this one month base -
The targets based on overhead supply are opportunistic, albeit with modest risk/reward prospects. This is a space I’m prepared to start looking at more closely, including put my toe in the water at the sector ETF level.