Tuesday, August 6, 2013

The Homies

After a stunning 225% increase from October 2011, ITB (the homebuilder ETF) has dropped 13% since the may top of 26.




It has dropped below both the 50 & 200 day emas.  A further drop to 16 would represent a 50% decrease of the prior run which might make for a good long entry point.

The July target of 15 for KB Homes still is in play, as the head and shoulders pattern portends.