Yesterday, the iShares U.S. Home Construction (ITB) came within touching distance of its 200-day moving average. Had it crossed over, it would have been the first time it has done so in 13 months. It still managed to surge to a six-month high, reports Tomi Kilgore for Forbes. Year-to-date, the fund is up 22.9%.
It’s down slightly so far today, so topping the trend line might have to wait a bit.
The other home construction-related ETF, SPDR S&P Homebuilders (XHB), has been strong this year, too: it’s up 22% year-to-date, and above its trend line.
For full disclosure, some of Tom Lydon’s clients own shares of XHB.
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