Joe Friday: "Home Construction Index Down 19% in 9 Weeks"
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
After creating a bearish rising wedge, the DJ Home Construction index broke support and then rallied to ... kiss underside of the old support as resistance on 5/17.
Results since the kiss of resistance ... A 19% decline in 9 weeks!
Joe Friday: This index is now breaking another support line. Keep a close eye on this sector because it was the first key sector to slow down in 2005, before the broad economy slowed down."
For information about Kimble Charting Solutions, send an email to email@example.com.