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Homyk Registered Apr 2011 |
This is an analysis of the Construction index using the XHB Homebuilders ETF. The previous sector analyzed was the Biotechnology index.
Long time frame 
From the long term chart we see that the homebuilders sector hasn`t had the steep recovery relative to it`s heights like many other sectors has. It is moving in a wide channel that is relatively flat. Price seems to be heading into the 1/3 of the lower area again after holding an intermediate channel for many months. Medium time frame 
In the medium term we see that price has recently broken out of a channel with big price movements. Price is moving strangely and it might seem out of control in the medium term. It seems likely for price to hit the wide channel`s inner line, but with perhaps some large swings before it gets there. |
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