Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Thursday, December 31, 2015

XHB Home Builder Index Approaches Critical Point

XHB has been a strong performer the past seven years.  Most recently it has also had a midterm channel shown in black where it has been afforded several slips thru the line.  It is currently under the channel and backtesting it.

Soon however, the lower line of the two channels will merge and either provide double support or an all is lost break thru point.  We will have to see.

Trade well my friends


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