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MPTrader Mid-Day Minute
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 Homebuilders ETF Approaching Resistance
By Mike Paulenoff, www.MPTrader.com I need to give you a heads up on the Homebuilders ETF (AMEX: XHB), which is nearing a confrontation with major resistance between 22.7 and 23.30. Let's notice that the sharply declining 200 DMA at 23.09 is right in the middle of that range and presents a major test of the bottoming/recovery process in the sector. However, based on my near AND intermediate-term technical work, the XHB will hurdle the above-mentioned resistance zone on the way to 25.00. For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his ETF Trading Diary. |
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