The Home Construction iShares (ITB) is leading the market higher again with a fresh 52-week high this week. The chart below also shows the Price Relative (ITB:SPY ratio) hitting a new high. Below this chart is a snapshot from today's new high list. A sort by industry group shows nine home builders hitting 52-week highs.
Click this image for a live chart.
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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