goodguy
Short

Real Estate (IYR) Rolling Over?

AMEX:IYR   ISHARES U.S. REAL ESTATE ETF
8 2 1
The first part of this week I think will have a overall positive atmosphere for stocks so we could have a some bounche up but longer term I think there is a good chance we are entering into a bear phase for real estate.
After looking at this more I think a better way of lableing this follows. With the correction "2" an irregular flat as I describe in the IWM recent post. The second most common fib relationship in irrregular flats is for "b" to exceed "1" by 1.38 which we have here.
snapshot
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Correction: on the weekly chart is should be: "3=2.618 X 1"
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