Carter Worth Is Bullish On Homebuilders

On

, Carter Worth analyzed the future price action for

. He said that this sector is not impacted by the problems in Europe, Russia, China or by declining crude oil price and it lost only half of the S&P 500 decline on Monday. In the last month the market lost 3 percent and

gained 3 percent, which is a sign of strength. Worth showed two bullish technical patterns on the chart of SPDR S&P Homebuilders (ETF). There is a well-defined double bottom and also a cup and handle pattern. He believes that these bullish patterns are a sign that SPDR S&P Homebuilders (ETF) is going to outperform the market on relative and absolute basis in 2015.