We ranked and reviewed the constituents of the iShares U.S. Home Construction ETF (ITB) and found a 10% reduction in the number of stocks with a bullish multi-factor model score from a 1-month look back. At the end of July, we had 79% of the constituents with a positive score compared to 69% now. Some stocks had a large negative step size drop in their score, and the largest weighted stock in the etf, DR Horton (DHI), is one of them. Here we review the absolute and relative trend structure of the ITB and the top five stocks in the etf and five stocks with a large drop in our model score.