Investors who seek market exposure to the housing market and banking system without the hard work of picking individual stocks can trade these three exchange-traded funds.

The iShares U.S. Construction ETF (ITB) - Get Report consists of 46 stocks involved in home construction and includes homebuilders D R Horton (DHI) - Get Report , Lennar (LEN) - Get Report and PulteGroup (PHM) - Get Report as the top three holdings with weightings of 12.77%, 10.07% and 8.09%, respectively.

The iShares U.S. Regional Banks ETF (IAT) - Get Report consists of 54 bank stocks and regional banksUS Bancorp (USB) - Get Report , PNC Financial (PNC) - Get Report and BB&T Corp(BBT) - Get Report are the top three holdings with weightings of 17.1%, 10.9% and 7.5%, respectively. Note that the four "too big to fail" money center banks are not components of this ETF.

The First Trust NASDAQ ABA Community Bank Index Fund (QABA) - Get Report consists of 147 smaller banks 147 smaller banks with Signature Bank (SBNY) - Get Report the largest component at a 3.52% weighting.

Before we look at the weekly charts for these ETFs, let's take a look at the most recent housing market data.

Here's the latest S&P Core Logic Case-Shiller Indices.

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The key 20-city composite had a year-over-year seasonally adjusted rise of 5% in July but was unchanged month over month. From the July 2006 peak to the March 2012 trough, prices were down 35.1%. From the trough to the current level home prices are up an unsustainable 42.4% and just 7.6% below the peak.

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The chart above shows new home sales for August. New home sales plunged 7.6% month over month in August to a seasonally adjusted annual rate of 609,000 down from a revised rate of 659,000 in July. This chart clearly shows that the sales pace for new homes is significantly below potential.

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The chart above shows existing home sales for August. This broader measure of home sales fell to a seasonally adjusted annual rate 5.33 million down from 5.38 million units in July. Note how the 5.5 million sales rate has been a ceiling since 2007, well below pre-crash levels.

Now, here's the weekly chart for the home construction ETF.

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Courtesy of MetaStock Xenith

The weekly chart shows a red line through the price bars, which is the key weekly moving average (a five-week modified moving average). The green line is the 200-week simple moving average considered the "reversion to the mean."

The study in red along the bottom of the chart is weekly momentum (a 12x3x3 weekly slow stochastic), which scales between 00.00 and 100.00, where readings above 80.00 indicates overbought and readings below 20.00 indicates oversold. A negative weekly chart shows the stock below its key weekly moving average with weekly momentum declining below 80.00 in a trend towards 20.00.

The construction ETF trades around $27, up just 0.5% year to date is in bull market territory 26.1% above its Feb. 11 low of $21.61.

The weekly chart for the housing ETF has been downgraded to negative with ITB below its key weekly moving average of $27.86 and above its 200-week simple moving average of $25.15, which was last tested during the week of Feb. 26 when the average was $23.61. Weekly momentum is projected to end the week at 35.75 down from 45.04 on Sept. 30.

Investors looking to buy the home construction ETF should buy on weakness to $20.80, which is a key level on technical charts until the end of 2016. Investors looking to reduce holdings should sell strength to $30.45 and $31.64, which are key levels on technical charts until the end of October and until the end of 2016, respectively.

Here's the weekly chart for regional bank ETF.

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Courtesy of MetaStock Xenith

The regional bank ETF trades around $35, up just 1% year to date and in bull market territory 25.6% above its Feb. 11 low of $28.12.

The weekly chart for the regional bank ETF is positive but overbought with IAT above its key weekly moving average of $34.98 and above its 200-week simple moving average of $32.60, which was last tested during the week of July 8 when the average was $31.96. The weekly momentum reading is projected to slip to 83.46 this week down from 85.44 on Sept. 30, becoming less overbought versus the threshold of 80.00.

Investors looking to buy the regional bank ETF should buy on weakness to $32.60, which is the 200-week simple moving average. Investors looking to reduce holdings should sell strength to $36.13 and $40.19, which are key levels on technical charts until the end of October and until the end of 2016, respectively.

Here's the weekly chart for the community bank ETF.

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Courtesy of MetaStock Xenith

The community bank ETF trades close to $41, up 5.6% year to date and in bull market territory 27% above its Feb. 11 low of $32.40.

The weekly chart for the community bank ETF is positive but overbought with QABA above its key weekly moving average of $40.92 and above its 200-week simple moving average of $35.20, which was last tested during the week of Feb. 12 when the average was $32.91. The weekly momentum reading is projected to slip rise to 84.78 this week down from 87.59 on Sept. 30, becoming less overbought above the 80.00 threshold.

Investors looking to buy the community bank ETF should do so on weakness to $35.20, which is the 200-week simple moving average. Investors looking to reduce holdings should sell strength to $42.50 and $43.37, which are key levels on technical charts until the end of October and until the end of 2016, respectively. A higher risky level of $46.30 is in play until the end of 2016.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.