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Commentary Topic from greenfaucet

Breakout Level to Watch for Cup and Handle on XHB Homebuilders Chart

Not only has the homebuilder sector received attention lately (investors often monitor this sector to assess the health of the economy via home purchases), the chart of the XHB Homebuilder SPDR ETF is showing a very interesting pattern that's worth a glance. Whether or not the pattern plays out is yet to be seen, but we can at least take a look at the current support and resistance areas to watch for clues for the next move, particularly as we face a potential breakout here that will either pick up steam... or taper off into a sell-off.