At the opening on 8/27, this post suggested to buy the Homebuilders ETF (XHB) with a stop on a break of support. Yesterday the 500 index had a good day gaining 1.66%. XHB reflected great relative strength, gaining 2.90%.
The pattern in XHB is a very positive one! Since this ETF got off to a great start, add a stop at 5% below current prices. IF this ETF can break the top of the falling wedge, I will feel like we can take it easy with this position, until then…. I will keep updates fairly regular on this position.
