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It’s not all bad out there.
I have been posting about Macerich for a few months now, due its bullish weekly chart cup and “high handle” setup. MAC is in the REIT space, and the general real estate sector continues to have a strong bid underneath it. In addition, well-known REITs such as GGP and SPG are acting well in the face of a sloppy tape. My sense is that capital wants to rotate over to this sector, but the general market malaise is keeping a figurative lid over the sector as it marks time.
As you can see below on the weekly chart the IYR, ETF for the real estate sector, a healthy move higher is only a few ticks away as the sector knocks up against those 2011 highs. The inverse head and shoulders bullish setup projects a strong move. The idea is to be prepared to act quickly if and when the overall market firms up to the point where sustained, energetic breakouts become more commonplace again. When that happens, real estate is one place where you should probably be.
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What do you think off arr as a reit as well as mac
not as good of a chart as the others–plenty of work to do there for bulls