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Trouble in REIT Land? A look at IYR


Thursday January 26th, 2017
Trouble in REIT Land? A look at IYR
by Mike Paulenoff www.MPTrader.com

The iShares US Real Estate (IYR) is on the verge of pressing down through its Nov-Jan up trendline in the vicinity of 77.00, which, if broken and sustained, will trigger new sell signals after a three-month, recovery-rally period.

The new sell signals will renew a larger, intermediate-term correction off of the Aug, 2016, high at 85.79-- that points to a test of the major support line off of the Feb, 2016, low (66.88), now cutting across the price axis at 73.80, if violated, thereafter to a retest of the Nov low (72.11).

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