Tuesday, September 8, 2009

Home Builders Technical Analysis

Home-builders got close to upside the main channel. It tried to breakout 3 times and every single time it failed and pull back hard,it would be very interesting to see if bulls could push it higher, please note that fundamentals do not support higher price. I already went over fundamentals therefore I'm not going to repeat myself. Keep an eye on $16 if XHB could move above it; there would be some hopes for bulls to the move the XHB higher.