A potential inverse “Head & Shoulders” neckline is being tested right now by the REIT ETF (IYR) in the chart below.
CLICK ON CHART TO ENLARGE
If long IYR, add a protective stop below current prices. For those that don’t own IYR, if it breaks above the neckline, go after it, using the neckline as a stop.
I know the news about Real Estate is anything but favorable. Just sharing a pattern that has sizeable potential.