While the Market Vectors Daily Gold Miner ETF (NYSEARCA:GDX) taps the bottom of the trend line shown in this previous post, the iShares U.S. Real Estate ETF (NYSEARCA:IYR) appears to have completed a feeble upward correction and has now resumed its down-trend.
Chart by TeleChart
This prior post showed the longer term perspective for Real Estate and it is not a good one for the bulls.
There is a possibility that the entire move from last summer-to-now was an indication of a long-term trend change.
If this assessment is correct, then there is the potential for a sustained move lower that may go as far as the support level at the 62 - area before a retracement.
Disclosure: The author is long SRS.