Homebuilders on Track for Confirmed Top

This blog post ought to be right to the point: The homebuilders, a chic bullish rotation pick headed into the beginning of this year, are now on track to confirm a rolling head and shoulders bull market top, spanning 2015, heretofore.

While the measured move of the pattern may yield only a move down to $30 or so, I believe when viewed in combination of the many abnormally-steep trends in the housing-related complex, namely HD, the risk would rise of the selling intensity dramatically picking up once bulls realize they have been effectively trapped.

Im addition, the charts for individual homebuilders, such as BZH KBH LEN TOL remain very problematic, even if DHI NVR are the holdouts in the group (which may be ripe to succumb). 

A daily close today below $34.40 on XHB would seal the confirmed top for my work.