Materials Sector WOOD & Homebuilders Sector ETF XHB – Analysis

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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.

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