There is a multi-year trendline that has taken the ascent of homebuilders and brought it to a screeching halt for two weeks now.
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There is a multi-year trendline that has taken the ascent of homebuilders and brought it to a screeching halt for two weeks now. Here is the XHB:
(Click on image to enlarge)
You can see the blue trendline here as a part of the wedge pattern. It seems to me it is very likely that this will ease back to close its big price gap if it continues to pound on this trendline and fails to beat it.
(Click on image to enlarge)
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I tilt to the bearish side. Slope of Hope is not, and has never been, a provider of investment advice. So I take absolutely no responsibility for the losses – – or any credit for the gains – – you may or may not make from reading this forum. Whether you lose your life savings or make a fortune is entirely up to you and your own skills/luck/fate.
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