buyupside.com Homebuilders Index Update

The buyupside.com Homebuilders Index includes the following eight large residential homebuilders: Beazer Homes USA (BZH), Centex (CTX), DR Horton (DHI), Hovnanian Enterprises (HOV), Lennar (LEN), Pulte Homes (PMH), Ryland Group (RYL) and Toll Brothers (TOL).

The index is trading below its upside price channel indicating the index is on the downside. Also, the chart resembles a head and shoulders top, another indicator that the index is on the downside.

Posted March 2, 2006.