TradingKey – Lennar began trading on September 11 with comments indicating a confirmed closing price on September 10 of $77.90. This represented a 3.54% change, and was effectively a reference to $77.92. Lennar’s stock made a technical break to the downside, and fell below its trendline and $79.97 support level as mortgage rates moved up towards a range of 6.5%-7%. This reflects more than a pure price movement. Improving execution at the company level is being offset by a more challenging macro environment in the housing market. Lennar, along with the other housing constructors, will have higher earnings on September 16.