09Sep10:21 amEST

A Fresh View of Real Estate

Equities are snapping back again this morning, with the second consecutive sizable gap higher in the futures translating into a squeeze at the cash open. 1980 still figures to be a level worth watching close on the S&P 500 Index, as we head toward the big AAPL event at 1pm EST today. 

While that is playing out, Treasuries are coming in as yields rise. With this in mind, I am stalking the commercial real estate stocks in the IYR ETF, often seen as a rate-sensitive sector moving in tandem with bond prices and inversely to yields. 

After a bounce in recent sessions, IYR, seen on the 30-minute chart, below, may be at risk of rolling back over from the highlighted rising wedge pattern (purple lines). The lower light blue line is a support trendline dating back several quarters, to which REITs have shown a particular sensitivity. 

I will be updating this idea in real-time for Members on the private Twitter feed

Stock Market Recap 09/08/15 ... Weighing the Strength of Thi...

 
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