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David Fry, ETF Digest (68 clicks)
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Hovnanian (HOV) loses less money than expected and we have a very heavy volume rally in the Homebuilders’ ETF (XHB):

There’s nothing inspiring about today’s market action. I’m suspicious of the rally in XHB and the Consumer Discretionary SPDR ETF (XLY), while other important market sectors struggle. It seems a “managed” market.

Aloha.

Source: Be Suspicious of any Market Strength -- Especially in the Homebuilders