XHB Homebuilders and ITB Home Construction ETF's Weekly Charts; Downward-Sloping Channels; Housing Sector in Bear Market

The housing sector data continues softening in recent weeks. With winter coming, housing activity in the northern states will subside. Housing and autos are the two key sectors that drive the US economy.

The XHB peaks at 47 in January and this week prints a 34-handle, a big -27% loss well into bear market territory which is a -20% drop off a top. The ITB peaks at 46 in January and this week prints a 31-handle, a huge -30% loss in a bear market. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.