Greg Schnell

Homebuilders have been on an unbelievably big run. Looking at two relevant ETFs, we can see that one is at prior highs, while the other broke out to fresh new highs. Let's start there. XHB was recently at a prior high, and the ITB made newer highs. Amazingly, XHB -- the homebuilders ETF -- got within 0.01 cent of the prior high, then pulled back below the 10-week moving average on Thursday.

The last few weeks, metals have been swinging wildly. I have been following Copper and Gold and it has been a wild ride to say the least. I'll cover off Copper and related miners today. As we wait for the world of electric cars to consume every ounce of copper, the focus for copper mining and production remains high as inventories remain low. One of the metal mining ETF's is CPER, which trades like copper.

The market has continued higher. Period. Despite all the warnings, markets continue to push higher. This is the view over the last month. You can see the dates of each chart in the top left corner and the number of trading days in the lower right corner. Every sector was a winner for this month of July. Real Estate has been one of the top sectors for two of the four weeks, but it has been as weak as discretionary overall.