Real Estate (IYR) is coming up to serious resistance and the declining 200 day EMA (green line) on disappearing volume...
Furthermore, rising rates can't be good for commercial mortgages.
This is a good spot for longs to take their profits or shorts to start getting in.
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Friday: No Major Economic Releases
4 hours ago
3 comments:
That's what I thought too, but look at this IYR bitch, rate are moving up of late, the thing just won't tank! It even outperform the market today! WTF is this?! Look at the past, TNX is breakout major already, but IYR? Not even tanking, look just like a regular correction! gee.... I think "they" want to grind SRS to $0 because they are so "short" that sucker... The purpose of this rally from March seems to grind all 2X 3X bearish fund to $0 (or near $0) because they did it with the bullish fund (x2 x3 bullish etf) already.... so is bearish ETF's turn... Some smart a$$ probably short both at their high since they know both fund are doom to go zero at some point...
I am out but end August. Different. Sept Oct always the witching months. End August time to start doing one's thing. JMOO.
Glad you you are back. Been fishiing recently !
Thought I would just add that in the past I was a student of Gann. He maintained a 9 year was always a bull year because it was a year of completion. There are very few programs that do Gann charts, but I am still a believer in a small way. Like his RLs were very close to Fib levels that everyone looks at now (eg 50% or 22.5 or 45 or 90 or 144 etc). Anyhow for whatever reason, a 9 year is a bull. I think this bull (BS) market will end near Sept/Oct, when the market ALWAYS gets hit !
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