The hot flying Real Estate ETF (IYR) may have created a “Bearish Head & Shoulders” topping pattern at its 61% Fibonacci retracement level of late.

The “Power of the Pattern” suggested for Premium and Sector/Commodity Sentiment Extreme members to established a short position in IYR a few weeks ago and we are attempting to score on defense due because of the pattern above.

If support line (1) doesn’t hold, this sector could struggle for a while due to how hot it has been over the past couple of years!  Key to this position is if support line (1) can hold or not!  Members are keeping a trailing stop on this short position at this time.


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