π Homebuilders Shape Up For Breakout
π Daily ETF Overview
In this week's industry group table, we notice that Homebuilders $XHB have successfully completed a red to green transition, indicating emerging relative strength.
Looking at XHB, the longer-term setup here looks compelling, with the group completing a major basing pattern.
Any sustained strength here could be the beginning stages of a multi-year breakout that could awaken this dormant group.
Steve Strazza's Breakout Multiplier hunts for one setup, a stock coiling tight right before it breaks.
He buys calls, sells half at a double to take the original stake off the table, and lets the rest run.
The record is independently audited by Conquest Investment Advisory: across 443 trades, 245 doubled or better, though like any options strategy the losers can go to zero, which is why he keeps each position small.
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