[XHB] update

In my first and only post on XHB (home builders index) to date it turned out that my model was too early because  the chart decided to form a rising wedge.  This is still corrective IMO and so I expect a serious decline in XHB from here.  I always warned that rising interest rates would tank the bloated housing market.  The reason for the rate increases don't matter.  In addition, the fed telegraphed this move time and again thus giving anyone who was willing to go into debt at these housing prices ample chance to do so.  So at this point I think anyone who wanted a house now owns one and prices will have to come down a lot before those waiting in the wings become interested.  The first sign of real trouble would be a breakdown below the lower rail, especially if it happens with a gap.  If this bounces here I do not expect a new high to form. I expect the right ear of an owl to form in that case before a precipitous collapse though support is seen.