When we debuted our StockCharts Technical Rankings (SCTRs) back in November of last year, little did we know that the strongest stock for most of 2012 was just completing its turnaround. Check out this chart of PHM and its historical SCTR line:
This is another b-i-g chart, you may need to click it once or twice to get the full effect (or just click here for a live version). Pulte's continued strength is both technically impressive and economically promising. It has spent more time at 99.9 on our SCTR charts than any other stock so far.
Norfolk Southern (NSC) is a railroad company and a key part of the Dow Transports. The chart below shows NSC hitting resistance around 75 and falling over 1% today. Notice that MACD barely made it back in positive territory on the last bounce. Another downturn from here would surely turn momentum bearish.