They say home is where the heart is, but in the eyes of one technician it's also where you can find big profits.
The S&P 500 Homebuilders ETF, the XHB, hit a new multiyear high this week after retail behemoth Home Depot reported better-than-expected sales and lifted guidance on Tuesday. Shares of the home improvement giant are now up 17 percent this year, and chart guru Rich Ross sees even more gains to come.
"When I look at a chart of Home Depot I see there is still upside from here," Ross said Tuesday on CNBC's "Trading Nation." Home Depot stock hit an all-time high this week on the back of its earnings beat.