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Homebuilders and Shanghai Index break down at the same time!

By Chart School
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Courtesy of Chris Kimble

Most Fridays I do a chart for dshort.com, based upon the “Joe Friday” theme from the dragnet show.  Below is the chart from his site.

CLICK ON CHART TO ENLARGE

These flag/pennant patterns have taken a few years to form.  Homebuilders broke down before the broad market did in 2007 and for some reason… how China does might impact the world! 

Flag/Pennant patterns breakouts/breakdowns suggest a big move is ahead…with both breaking down at the same time, this is a “fact” investors might want to pay attention too!

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