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The SPDR S&P Homebuilders ETF (NYSE: XHB) bottomed in March and made a direct run to the 200-day moving average by the end of April.
In mid-July, it executed a gold cross, which indicated that its long-term trend was about to change. By early August, it had broken the high of July, establishing an uptrend.
Since then it has been trading within a bull channel, but recently broke the 50-day moving average (blue line) suggesting that XHB will head for the support line and 200-day moving average at around $12.50.
For those who think that the economy is turning, the homebuilders may be a good long-term investment, since prior to the economic crisis XHB traded above $40 and should participate in a new recovery.
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