Materials Sector WOOD & Homebuilders Sector ETF XHB – Analysis

By Chris Vermeulen of Technical Traders.com

Technical Trader, Market Forecaster, and Author • Dec 6, 2021 at 11:52 AM EST

WOOD has had a very strong run from the Covid lows and has been flagging sideways for a good chunk of this year, really forming what looks to be a big basing formation.

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WOOD has had a very strong run from the Covid lows and has been flagging sideways for a good chunk of this year, really forming what looks to be a big basing formation.

XHB has been performing exceptionally well over the last month and a half. It had a fairly minor pullback and started to reverse back up to the recent highs. Based on the charts, we have a potential for about a 14% rally, if the stock market can find a bottom and start to rally and continue to extend into the end of the year.

Video length 00:10:24

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