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Much like the dorky girl in high school with a not-so-secret crush on you, the real estate sector will simply not go away. The above daily chart for the ETF of the sector, IYR, tells us that $63 has been a huge brick wall not only this year, but over the past few years as well. Despite that tough resistance, the chart has failed to break down. We recently saw an orderly falling wedge towards the 20 and 50 day moving average convergence, followed by a strong move higher today out of said wedge. GIven the inability of the bears to complete the breakdown, coupled with the seemingly strong underlying bid, I expect the next test of $63 to result in a successful breach. Even from now until then, though, there is quite a good opportunity for longs, particularly in the following REITs.

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