The homebuilder stocks and ETF (XHB) have been under-performing of late and are now in a weak position.
Just like watching paint dry, it looks like a turn is taking hold.
A handful of well-known homebuilder stocks are in weak positions, including DR Horton (DHI), KB Homes (KBH), Meritage Homes (MTH), Lennar (LEN), and Pulte Group (PHM). continues to look very weak and I like it most of the time as a short. LEN and PHM also look like good adds her.
Looking at the charts below, when you see red bars, it means the trend is in a weak position.
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