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Why “Homebuilders” could get damaged!

By Chart School
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Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

DJ Home Construction Index finds itself at Fibonacci 161% Extension level and rising resistance in the chart above. 

ITB is the ETF to watch here! A break below the bearish rising wedge could be very hard on Homebuilders and support is being tested in a big way at (2).

Sector/Commodity Extreme Sentiment & Premium members shorted IYR a few weeks ago. Below you can get the “Free Real Estate Report” per why the “Power of the Pattern” was suggesting to short Real Estate.

CLICK HERE FOR FREE REAL ESTATE PDF REPORT

 

 

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