Series of Lower Highs

Real estate may have been held up by the expectation of lower rates.

With those rates, it’s been on-again, off-again, then back on again, only to go back off again.

Let’s not forget the real possibility, the entire dataset (employment, jobless claims et al.) could be fake. 🙂

So, it’s a good thing with Wyckoff, we’re not looking at so-called ‘data’ but the truth; the price action itself.

Real Estate IYR, Daily

We’ve got a series of lower highs.

No doubt, the price action is very subtle … slowing eroding away without much fanfare.

With this morning’s session, we have a new daily low.

If short, a good place for a stop would be yesterday’s high (not advice, not a recommendation).

Housekeeping.

From the last post on XLF, today’s session has essentially been a combination of the two scenarios.

As a result (and according to the trading plan), the short FAZ-24-01, was closed with a marginal profit of 0.62%.

The sector may still go into a sustained decline. However, it did not perform to expectations and therefore, exited.

As Elder said years ago, ‘when in doubt get out.’

Stay Tuned

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