Real Entry Point

Real estate presents another shorting opportunity

The nauseating strength the market has shown since October 13th is well expressed by an industry that is running headlong into disaster: real estate. The ETF for this, IYR, has been a persistent favorite of mine, and price action is now butting right up against important resistance.

Take note how, over the longer term, the price peaks have carved out a series of lower highs for the entirety of this ostensible bear market.

Looking out even farther, you can see what a potentially important tumble IYR could be approaching.