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The Chartman

Solid Jobs Data May Foreshadow Upbeat Housing Developments

By The Chartman FOXBusiness

Wow, what a surprising week: while I thought there was a chance the market would rally back to resistance, I never thought it would keep going all the way to previous resistance!

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But, it’s been that kind of year, where the unexpected is to be expected.  What’s next?  After a 785 point move, the Dow needs a rest.  Of course, that’s the expected move, so who knows!

With Friday’s employment report being fairly positive, there is now talk the housing market might also get a bang.  As a homeowner, I sure hope so.  But, let’s see what two complementary charts say.

The first is Toll Brothers (TOL) and it’s getting more positive, but I’d wait a bit.

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On the other hand, I love Home Depot (HD).  A super breakout and I think it’ll head higher.

Have a good week and let’s hope the market puts more points in above 12,000.

What do you think?

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