Sunday, February 29, 2004

Chart of the Week

Bloomberg Home Builders Index 1 Year Candlestick Chart



BOTTOM LINE: The Directional Movement Indicator, which has been the most accurate predictor of short-term trading moves in this index, turned sharply higher last week. A clean break above 256, where the index now resides, combined with a continuation of the recent fall in interest rates should allow this sector to regain its market leadership role.

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