Homebuilders Stronger

10/23/2008 9:44 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

chart

Even though the selling has been broad-based since the July lows, the Homebuilders have been stronger, as XHB is down just 0.6% versus 25.3% for the S&P 500. The RS chart does appear to be bottoming, but a move above the ten-month resistance is needed to confirm that the lows are in place.