‘Project’ Update

The stop on our ‘Project Stimulus’ account was originally listed as “TBD”.

The market itself needed to define the stop. Now, it has.

The 4-Hour chart of IYR shows a wedge pattern that’s right at resistance. The early session is over and posted a narrow red bar.

We’re just into the second half; price action is inching up.

If IYR gets above the inter-session high of 92.50, it’s likely to make one last push higher into a measured move.

We’re short via DRV (not advice, not a recommendation) so we don’t want to be around if that happens.

The Project table has been updated with an approximate location for a DRV stop:

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

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