Thursday, June 11, 2009

Home Builders Big Picture

Home builders are clearly in a down trend, but in the short term they rallied far from the march lows. At this point big institutions are trying to decide which way they want to send the market. Note that 200 EMA & SMA are above it that should act as resistance . the 100 EMA & 90 EMA has been acting as support for. If it could get above 200 EMA and stays there for a week or so it could shoot up to test the upper side the main channel (at ~$19).
You might want to check out my older post about home builders.