A Guide To American Houses
Posted: December 19, 2013 Filed under: Ascending Triangle, H&S Bottom, traingle | Tags: $ITB, $XHB, Home Construction, Homebuilders
Now that the FED is out of the way, lets look at a couple of related ETFs, first up is Homebuilders etf (XHB).
Note the bull trap last month. Now its possible that the 6-months symmetrical triangle is close to another breakout with no bull traps (god willing). Target is $35.
Here on the Home Construction (ITB) we have a continuation H&S bottom pattern that is almost complete with a neckline at 23.90. Interestingly the right shoulder has morphed into an ascending triangle giving the pattern some more power to break out. Target is $26.50.