Real Estate … Slipping Away

Mid Session

‘Frog In The Pot’

Once price action enters back into a previous trading range, the clock starts ticking.

Since IYR’s at the upper bound of the congestion zone, there’s still a possibility it can right itself and pull away to the upside.

Mid Session

During the mid-session just now, price action is pushing slightly higher and testing the underside of the range (upper blue line).

This is normal behavior … and we’re going to wait it out (not advice, not a recommendation).

For IYR to break out to the upside, there would have to be some major demand to launch IYR prices higher; just where would that demand come from?

Stay Tuned

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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