Real Estate is Looking Up
- Posted by Greg Harmon
- on February 13th, 2014
I am not talking about the housing market in your town though, but rather the iShares Real Estate ETF, $IYR. This ETF has been consolidating in a tightening symmetrical triangle since July, and is just making the 5th touch at the top rail, often a breaking point. The Relative Strength Index (RSI) is bullish and rising and the MACD is also moving higher to support a break through. Finally the accumulation/distribution statistic shows strong accumulation as it reaches the top rail. A break higher targets a move to 75.55, near the previous high and nearly 13% higher. Yes Real Estate is looking up.
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Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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