--> Trading Strategies Blog

After a week long shakeout below the 50-day moving average in early December, the iShares Home Construction Index ($ITB) broke out and closed at new 52-week highs yesterday. The base started back in October, with $ITB stalling out just below 21.00 after a 20% move out from the prior base. The early December shakeout formed a necessary higher swing low on December 6, after a violent shakeout below the 50-day MA in mid-October. Although we missed the breakout we will continue to monitor the price action for a second breakout entry or a pullback entry on 3-5 days of weakness.

Continue Reading...
Follow us on Twitter

Latest Tweets

@MorpheusTrading