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.
Get my book, Trading Options: Using Technical Analysis to Design Winning Options Trades from Amazon.
Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through January 2014 Expiry and sign up here for the free 7 day trial before you pay.
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded since 1986 and held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- Premium Earnings 3-27-17: Red Hat and Darden
- 4 Trades for the Upside in Wells Fargo: Bonus Idea
- 5 Trade Ideas for Monday: Electronic Arts, Envision Healthcare, Olin, T-Mobile and Westmoreland Coal
- Top Trade Ideas for the Week of March 27, 2017: The Rest Premium
- Top Trade Ideas for the Week of March 27, 2017: The Best
- SPY Trends and Influencers March 25, 2017
- Macro Week in Review/Preview March 24, 2017
- How This Week’s Top 10 Performed, March 24, 2017
- The Pitchforks are Out
- Premium Earnings 3-23-17: KB Home and Micron Technology
Dragonfly Capital Updates