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The iShares Dow Jones US Real Estate Hits A Major Level

|Includes: iShares U.S. Real Estate ETF (IYR)

iShares Dow Jones US Real Estate (ETF) (NYSEARCA:IYR) hit two major support levels today. Ring the bell, jump for joy, lock and load. Please note the chart below. Notice that IYR is hitting the top pivot from 2011 and the up-sloping trend line from 2012. When two major trend lines converge, the likelihood of a bounce is amplified. This means the odds are strongly in the favor of buyers.

Gareth Soloway