Homebuilders Improving

09/10/2008 12:00 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

The Homebuilders ETF (XHB) started to outperform the S&P 500 in mid-August as the 18 month downtrend was broken. Heavy volume on the day after the July lows is also encouraging. Key resistance now at $23 and then in the $25-26 area. First strong support in the $17.40-18.30 area
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