A Massive Triangle Takes Shape for the Home Construction iShares

The Home Construction iShares (ITB) has gone nowhere since August 2009. After first crossing back above 12.75 in early August 2009, the ETF has meandered above/below this level the last 23 months. On the right half of the range, a large Symmetrical Triangle is taking shape. A break from this Triangle would trigger the next directional signal and could have ramifications for the broader market.

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