Reversal and Test

The last update on ProLogis link here, said we had ‘evidence of a struggle’.

That struggle made one more attempt to move higher, posted a new daily high, then reversed.

In the process, real estate IYR, reversed as well; bonds, TLT, closed lower for the week (rates higher).

That brings us back to ProLogis.

ProLogis PLD, Daily Close

The labels correspond to the following S: Spring, U: Up-Thrust, T: Test

With this type of set-up, the expectation is for PLD, to post lower right along with real estate (not advice, not a recommendation).

Stay Tuned

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