Halted Homebuilders

By -

There is a multi-year trendline which has taken the ascent of homebuilders and brought it to a screeching halt for two weeks now. Here is the XHB:

You can see the blue trendline here as a part of the wedge pattern. It seems to me it is very likely that this will ease back to close its big price gap if it continues to pound on this trendline and fails to beat it.