Yesterday, real estate IYR, may have formed a trading channel.

Update: 1:17p.m. EST. IYR has pushed past the channel. Short position via DRV exited (for now).

A new daily low (today) within channel boundaries would help to confirm.

If so, then stops for the long standing short position (via DRV) will follow down the outside right channel line.

Charts by StockCharts

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