Wednesday, April 11, 2007

Home Building Stocks Continue To Weaken



The home building stocks (HGX) continue to weaken as they make 4 month lows today. Notice the ratio line (HGX compared to S&P) in the lower pane making new multi year lows. The index is now beginning to break away from its 200 day moving average.

In my opinion I think this index will test the low from last year which was made last July.

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