Don't Ignore This Chart!

OBV Plunges as Home Construction iShares Breaks Support

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The Home Construction iShares (ITB) failed to hold its break above 21 and plunged over the last eight days. Volume expanded as the ETF broke the October lows. Notice that On Balance Volume (OBV) peaked a week ahead of the ETF and then moved to its lowest level since early August.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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