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DJ Home Construction Index finds itself at Fibonacci 161% Extension level and rising resistance in the chart above.
ITB is the ETF to watch here! A break below the bearish rising wedge could be very hard on Homebuilders and support is being tested in a big way at (2).
Sector/Commodity Extreme Sentiment & Premium members shorted IYR a few weeks ago. Below you can get the “Free Real Estate Report” per why the “Power of the Pattern” was suggesting to short Real Estate.