A nearly 4% jump in a homebuilder ETF in Friday’s risk-on, quarter-end rally carried the volatile sector fund to its highest level since 2008.
Kimble Charting Solutions noted the homebuilder ETF breakout in a note Friday.
Homebuilder stocks peaked in 2005 before the subprime crunch and housing meltdown.
ITB, the builder ETF, has broken out to its highest point since late 2008.
iShares Dow Jones US Home Construction