Carter Worth Is Bullish On Homebuilders

On CNBC's Fast Money, Carter Worth analyzed the future price action for SPDR S&P Homebuilders (ETF) (NYSE: XHB). 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 SPDR S&P Homebuilders (ETF) 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.