Homebuilders Ready to go, After a Well Deserved Rest?

Pretty decent action today in the new home construction space. The Ryland Group (NYSE:RYL), had a banner of a day, but was just one of many.

Sharing this, since it shows an often overlooked, very bullish pattern known as a hidden divergence (price higher lows, momentum lower lows). Plus a text-book breakout of a symmetrical triangle.

RYL 12 12 numb2

This group looks like it wants to come back to life after a few well deserved months off.

Lets see!

Captain John

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