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Housing

DHI surged after housing data. cup&handle idea is still validDHI is up today after housing news came out from US. There were sold 504k of nev homes compare to 442k expectatoins. Very strong upbeat. DHI was hovering around 8/21 EMA and above all key long term moving averages. It triggered long entry when price broke and closed above $23.25 resistance one month ago. Break above $24.80-$25 resistance area could attract more buying. -------------------------------------------------------------------------- Check my idea in the link below --------------------------------------------------------------------------
NYSE:DHILong
by andrew.berg
$XHB hold above $30I wrote back on 5/4 on my blog that "I'm standing by XHB" that I thought the negativity around housing was excessive and higher prices would eventually come our way. Some of the "smart" money on Wall Street was decisively negative. Among the stories predicting the fall in stock prices of the home builders included this one from Friday the 23rd. Big investors are betting against housing (on marketwatch.com) For now it looks like they may be on the wrong side of the trade. Two primary reasons: one fundamental and one technical. On the fundamentals housing construction numbers from the Commerce Department were bullish as reported by Reuters: Housing stocks rallied for a second day after data from the Commerce Department showed sales of new U.S. single-family homes rose more than expected in April and the supply of houses on the market hit a 3-1/2 year high. A day ago, another report showed existing home sales rebounded in April. While demand is still healthy the chart indicated that the market is still bullish on housing. After printing generally lower prices for two months price hit $30 (the line of defense I cited in my post on May 4th), formed a "spinning top" indicating indecision and then rebounded hard this week.
AMEX:XHBLong
by positionforex