Joe Friday: ''Home Construction Index Down 19% in 9 Weeks''

July 26th, 2013

by Chris Kimble

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After creating a bearish rising wedge, the DJ Home Construction index broke support and then rallied to … kiss underside of the old support as resistance on 5/17.

Results since the kiss of resistance … A 19% decline in 9 weeks!

Joe Friday: This index is now breaking another support line. Keep a close eye on this sector because it was the first key sector to slow down in 2005, before the broad economy slowed down."

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