Volume’s the clue for real estate, IYR.
Just like book-ends. Volume showed the pivot higher (just over three weeks ago) as well as the pivot lower today.
For those following these updates, it’s no secret I’ve been positioning my firm, short the sector (over the past two weeks) via DRV; not advice, not a recommendation.
Everyone has their own style. I’d rather be early, than late.
Now, it appears IYR has reached its extreme and heading lower. With what looks to be an obvious reversal, position size will be increased as the market dictates.
Downside potential is absolutely massive but not guaranteed.
Price action posting higher has changed the Point & Figure projected targets. Forecast updates will be forthcoming.
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