Regional Bank SPDR and Homebuilder SPDR Advance Step-for-Step

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

The Regional Bank SPDR (KRE) and the Homebuilders SPDR (XHB) have been leading the market higher since early October. Both bottomed with the October 3rd close and surged over 20% the last five weeks. Also notice how these two are moving step-for-step. KRE is red and XHB is black. Strength in these two groups is very positive for the broader market. The Correlation Coefficient shows a strong positive correlation.

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Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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