A key index of housing stocks is hitting several layers of overhead resistance.
We’ve noted over the past few weeks that the post-February stock rally has brought many of the major indices into areas of significant resistance on their charts. The same goes for some of the sector averages. Included among them, in our view, is the PHLX Housing Index, or HGX. The impressive list of factors posing as potential resistance nearby on the HGX chart includes:
This post was published at Zero Hedge on 03/30/2016.
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