When the floors are ceilings

By Stephen Cox, a Dow column Jones Newswires

New York (Dow Jones). - The sector of the house has evolved very well, acting of impeller of the impressive advances of the shareholding market of this year. If those advances are interrupted by a time - and the interruption can have begun Friday does not blame Freddie.

The action of the garantizadora agency of mortgages Freddie Mac (FRE) continues bearish. On the contrary, the actions of construction companies of house would have to register a bullish correction within a month.

Freddie Mac began his fall the previous week after which she knew herself of suspicious information to the committee of audit of the company. In which it goes of this week, the actions of Freddie Mac have quoted within a close rank of two dollars.

But the important thing for Freddie Mac from the technical point of view was the maximum and minimum rank of the previous week, between USS55,09 and USS46,48. Those two numbers define a rank of consolidation for the action, the one that now would be of USS51,40. It is not possible to say how much the operations of consolidation will last. In any case, the panorama finally is favorable to the loss. That must that the monthly graph sample that the generalized sale of the previous week conclusive broke a bullish tendency of almost seven years.

Wait for a movement to the loss to USS46,48. One more a fall pronouncing would direct the action of Freddie Mac to USS41,90. A bearish tendency to the support between USS39,06 and USS36,08 cannot be discarded.

The important number in the rank of consolidation of Freddie Mac is USS48,06. If one stays like support, the action could begin to appear at the level of USS55,09 resistance. Anyway, significant a bullish tendency will not be in march until the level of resistance of the USS60,94 has exceeded.

Perhaps Freddie Mac will be rescued - technically by Fannie Mae (FNM), the other great supplier of hypothecating financing of the country.

Fannie Mae, whose actions also underwent forts sales the week last through their bonds with Freddie Mac, in fact is recovering in the graphs. Fannie Mae touched to bottom the 12 of June to USS66,40, virtually the goal of USS66,45 support.

Fannie Mae, now near the USS71, will not have recovered in the graphs to the long term until it closes decidedly on the USS75,84. But, while the support of USS67,56 - USS66,45 stays, it has a possibility.

If a recovery does not appear, Fannie Mae will touch ceiling near the maximum level for the session of the 17 of June of USS73,05.

Friday colapsaron the actions of the construction companies of houses. The operators, who saw almost vertical rises for the actions from March, would not have to be surprised. In fact, the pattern of weakness of the sector practically has been in formation from month beginnings.

The following actions of constructors of houses share technical a characteristic notable. Their impressive rises had decelerated east month to weigh that the actions registered new historical rises. That "bearish divergence" is a classic signal of technical caution.

KB Home (KBH) was debilitated Friday when failing a test of resistance to USS69,87. Now one quotes right under USS66,78, and a closing under that level would imply a fall to USS63,52, or USS58,64. The action will not advance until recovering on USS71,55

Lennar Corp. (LEN), now near USS73,76, it touched ceiling at the maximum level of the session of the 17 of June of USS81,61. The action now has support in the technical band of USS75,10 - USS73,62. But the smaller bullish impulse suggests a fall USS69,90.

MDC Holding Corp. (MDC), now near USS48,34, it fell under his variable average of 13 days of USS50,70. Due to his smaller bullish impulse he is vulnerable to a correction if it fails the test. If Friday does not find support to USS48,58, calculated with a base of daily closing, the action it will direct to the USS45,30.

MDC Holding Corp. it will not enter a bullish tendency until it has surpassed the USS53,15.

Toll Inc. Brothers (TOL), now near the USS29,01, will not prolong the rise of this year until surpassing the USS32,13. So far he is technically weak under USS30,66, and vulnerable to a sale generalized until his support to USS27,74.