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:
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