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Paul Mosgovoy
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  • Real Estate: Significant Downside Potential 0 comments
    Jun 16, 2014 11:18 AM | about stocks: IYR

    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.

    (click to enlarge)IYR Weekly Chart

    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.

    Themes: Gold, Real Estate, GDX, SRS Stocks: IYR
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