November 20, 2012 at 17:48 PM EST
Homebuilders Buck Stock Weakness; Top Bet On Rebound
Homebuilder ETFs defied the stock market's sell-off Tuesday on news that new-home construction rose to its highest rate since July 2008. IShares Dow Jones U.S. Home Construction (ITB) rose 2.51% to 20.39. SPDR S&P Homebuilders (XHB) added 2.15% to 25.93. Both regained their 50-day moving averages after pulling back from new highs. They're both in solid up trends and sport Relative Strength Ratings of 95 and 93, respectively. That means they're
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