Insurance Stocks Rock

08/13/2009 9:34 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart
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The insurance stocks were strong Wednesday—up over 4%—as were the Homebuilders. The daily chart of the Dow Jones Insurance group shows the completion of a reverse H&S bottom formation in late July. The 38% retracement resistance is at 269 with the H&S target at 290. There is first good support in the 205-210 area.

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