Banner
I'll be watching these 2 charts (Monthly and Daily) on XHB in relation to New Home Sales data to be released on Tuesday (sales are still near 2009 lows, as shown on the graph below).
Immediate resistance is just above at a confluence of a 61.8% Fibonacci fanline, 50 dma, Monthly Volume Profile POC, Monthly VWAP, and the lower 1/3 level from the 2006 high to the 2009 low...price needs to clear and hold above 21.00 for a potential rally...otherwise, I'd look for more downside movement...looks like lots of volatility building here.
Homebuilders ETF (XHB)...Volatility Building

Homebuilders ETF (XHB)...Volatility Building

Homebuilders ETF (XHB)...Volatility Building

Read more http://www.strawberryblondesmarketsummary.com/2012/04/homebuilders-etf-xhbvolatility-building.html

                       

small-logoOur Featured  Bloggers represents some of the most in-depth and thought-provoking traders on the web. From Elliot Wave theory and forecasts to swing-trading strategies, and others simply showing you how to trade. You will find numerous options strategies and technical analysis on various equities, ETF's, indices, and futures as there is not shortage of material being offered by these seasoned traders.

Get Ryan's Top Six Trade Setups for Profitable Trading eBook for Free!

twitterfacebookbuttonsrss feedyoutubeemail


enter-the-shareplanner-splash-zone

part-time trader 300x250


Splash Zone Banner for Day-Trading Live Stream Top

SharePlanner Academy

SharePlanner Investment System