Real Estate: Outside-Down

It’s about 11:55 a.m. EST, IYR just posted outside-down.

There are four hours to go before the close. Depending on where that close is, we may have a key reversal in IYR.

Key reversals (aka outside-down, or up) are one of the more reliable indications of sustainable trend-change.

Of course, IYR has been closely monitored for several days with indications reversal is imminent.

This may be it.

Our Project Stimulus chart has been updated to include the market defined (as of this morning) stop level (not advice, not a recommendation):

Charts by StockCharts

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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