MORE BULLISH CONFIRMATION FOR AMERICA
We have another update on how “things can’t be all that bad” in America. This one comes from Home Depot (HD)…
This year, we’ve featured many charts that display how the U.S. economy, while not great, can’t be doing all that bad.
An even more powerful example of how things can’t be all that bad is Home Depot.
Owning a home is the American dream.
“The Depot” is America’s largest home improvement chain.
It sells the things we need to remodel kitchens, build backdoor patios, and build home additions. This makes Home Depot’s share price an excellent gauge of what’s happening in America.
As you can see from the two-year chart below, things are “happening.” This week, Home Depot reported solid second-quarter results… results that helped the stock register its highest high in 12 years.
We know investment newsletter readers are bombarded with claims that the U.S. economy is toast. We have to comment on the situation by noting that someday, it might be.
But as long as Home Depot is doing brisk business and enjoying a soaring share price, we’ll say “things can’t be all that bad.”
– Brian Hunt
Source: Market Notes