Just a few minutes into the session: IYR has posted a new daily low. Friday’s low, 89.75 was penetrated quickly.
We’re in nuanced territory.
IYR is hovering as if undecided.
Price action could recover and go on to new highs. However, looking at the weekly chart above, IYR filled the gap during last week’s action.
American Tower, AMT (researched over the weekend) has also posted a new daily low; potentially confirming its long-term reversal.
We’re at The Danger Pont: This is where risk is least.
Maintaining short IYR via DRV (not advice, not a recommendation).
Charts by StockCharts