Four Must-See Charts of the Day: Housing

Led by weak economic data and a number of disappointing earnings reports, stocks in the U.S. plunged on Thursday.

The commerce department said that in December, sales of new homes dropped 14.7% to 331,000 -- the most since 1994 -- versus expectations of 400,000. On top of that, was news from the labor department that said weekly initial jobless claims jumped by 3,000 to 588,000 versus estimates of 575,000. If those figures weren't bad enough, the worst was the number of Americans who are currently claiming unemployment insurance, which came in at a seasonally adjusted 4.78 million, marking the highest total since 1967.

If the fundamental news is sending a strong message that the housing market is still in dire straits, then what are the charts of some of the leading stocks in the housing market forecasting?

Let's take a look at four compelling housing-related charts that could be setting up to make a significant move, including Black & Decker (BDK Quote) and KB Home (KBH Quote).

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