Let’s Get This Party Started

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You can see on the daily chart of the homebuilder ETF, XHB, below that a massive multi-month triangle is likely to resolve soon. It is interesting how price working towards the apex will likely coincide with the “big boys” returning from vacation in early-2012 to help decide the fate of the homies. Indeed, we should know soon enough whether the much-discussed housing recovery is for real, or whether the phrase “home builder” turns into a laughable oxymoron next year.

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