Don't Ignore This Chart!

Home Builders Turn Dark Green on the Market Carpet

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Stocks are rebounded on Tuesday with homebuilders leading the way. The S&P Sector Carpet shows the Lennar (LEN) and Pulte (PHM) leading within the consumer discretionary sector. On the price charts, PHM is bounced off its April low and LEN formed a bullish engulfing pattern.

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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.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. Learn More
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