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Although they are not only often overlooked, but also dismissed in light of the housing bust over the past few years, the real estate and homebuilders are sectors that I have charted periodically when the market has corrected. Usually, but not always, they emerge from corrections in front of the market. I have discussed the IYR for quite some time now, and it has held up very well. A weekly close above $63 should bode extremely well for bulls going forward. Also note the bullish outside week being printed on the XHB, ETF for homebuilders. Even though they do not seem like it, these sectors are glamorous.
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