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SPDR Homebuilders ETF (XHB) at risk of bearish reversal

US housing market, a key contributor to US economic growth via the wealth effect that will trickle down to consumer spending & confidence.

We can decipher its impact on the overall stock mkt via sentiment/technical analysis on2/2 The recent rally of the from 19 Oct 22 low to 22 Nov 22 has been accompanied by declining volume & underperformance against the SP 500 ETF

Looks like up move has hit an inflection zone for a potential bearish reversal below 64.40 key MT pivotal resistance.

2/2 The recent rally of the from 19 Oct 22 low to 22 Nov 22 has been accompanied by declining volume & underperformance against the SP 500 ETF

Looks like up move has hit an inflection zone for a potential bearish reversal below 64.40 key MT pivotal resistance.

Kelvin-Wong

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Kelvin-Wong

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