A Good Sign for the Economy
It's been a long time since anyone was bullish on the construction stocks, but the bulls are starting to come back around and put the construction and home building indices back on the offensive. We're viewing this as a potential source of improvement for the economy and a sign that we may be on the back side of the "great recession." The technical signs suggest that the bottom is in for the construction sector and the bulls are taking back control of the group. We would look for signs of increasing upside traction and the establishment of a new primary uptrend in the sector.
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