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Tuesday, 3 July 2012
Housing - stunning performance
The housing market was probably one of the best performing sectors within the last year (see weekly chart below). Since its 2011 lows it shows a stunning 70% increase. If house prices do well stocks usually follow. Whereas there is potentially still a lot of room to the upside I see this index coming down sooner or later again. The following months and years will tell the truth.
Regarding SP500 - short term bearish. I expect a retest of the 1320 levels.
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