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Housing Recovery Remains Stalled

NEW YORK (TheStreet) - Today I review the performance of the 19 components of the PHLX Housing Sector (HGX) index, plus the one homebuilder I track that is not in this index.

Then I will provide two "crunching the numbers" tables to provide investors guidance on how to trade these stocks during the next month or so.

The housing index set a 52-week intraday high at 213.81 on Feb. 26, and hit its 2014 intraday low at 189.59 on April 15. On April 17, I wrote, Will the Housing Market Stay in the Tank? Let's Crunch the Numbers on Homebuilders, and today I will answer this question.

First let's look back on my article on March 10, Five Years from the Bottom: Keep an Eye on Housing and Banks where I showed that housing-related stocks peaked first in mid-2005, followed by community banks at the end of 2006 and the regional banks in February 2007. The major averages then began to crash in October 2007. This time a bearish rollover could occur in a more compressed time horizon.

The housing index held its 200-day simple moving average at 189.94, which could slow down a rollover given a weekly close this week above its five-week modified moving average at 196.25.

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