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Real Estate ETF (IYR) has done very well over the past year, gaining almost 10% more than SPY. Going into today, IYR was around 6% ahead of SPY YTD.
The Power of the Pattern reflects that IYR is at the top of a long-term trend channel and the top of a steep short-term rising channel. IYR was hitting both of them at the same time at (1) recently.
Now IYR could be breaking support of its steep rising channel at (2).
Is IYR sending important signals to the broad market? Could be!
Is IYR sending important signals to the bond market? Could be!
What IYR does in the near future could be very important to several areas of the markets. Watch it close to see if key signals come from this hot sector!
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