Real estate bullish MACD cross

The real estate sector made an upward cross of its MACD on the daily chart yesterday and appears headed toward the top of its parallel channel with good momentum. This sector is rated "market weight" by the analytics firms.

Since the EWRE equal weight real estate fund got its start in 2015, it has modestly outperformed the S&P 500. However, the sector faces headwinds from the "retail apocalypse" as brick-and-mortar stores close due to rising debt and stiff competition from online retailers.