The commercial real estate stocks in the IYR ETF are displaying some rare strength today, especially on a relative basis. Recall how weak this sector has been since the spring. On the daily chart, first below, note the upside reversal today just went price looked to have broken down from a well-defined falling wedge pattern.
If the REITs close near the highs of today and show some follow-through tomorrow I am stalking the URE ETF for a levered long trade. Please note that with a declining 200-day moving average, this would only be considered a quick counter-trend trade idea and not a major bottom call.
Also, note the 30-minute VXX chart, second below. I am not crazy about doing technical analysis on these volatility ETF’s. However, that sure is one smooth cup with handles on either side after steep prior downtrend.
___________________________________________________
___________________________________________________
If you enjoy the content at iBankCoin, please follow us on Twitter
so majestic
Here it is… http://www.thesafaripeople.co.uk/?p=204
chess, you truly are a master of content synergy
Synergies!
Kudu’s to you sir
Thanks, guys!
nvax trying.
You’ve been all over that one.
Closest thing I have to a conviction play right now, which is different than having faith or getting all stupid.
What I mean is that I like the trajectory and what they’re putting together. The flu/pandemic tech is one thing, but for me the RSV candidate is what could make them rock solid… if it pans out. The cash raised, ANDA contract, and institutional interest suggests a solid run is in order based on that potentiality. Word to the thesis.
I hear you, good stuff.
Looks like Venti style Starbucks Cup
LoL
my vxx puts will need that cup to shatter.
indeed, haha
ANAC breakout to all time highs. I am involved.
Great chart.