IYR is the ticker symbol for U.S. Real Estate ETF. Since the financial crash in 2009, the instrument is steadily rising and currently only $1 from breaking the 2007 all-time high. In the short term chart below, we can see the rally is unfolding as an 5 waves impulsive Elliott Wave structure. The impulsive rally started from August 5, 2019 low where wave ((i))...
Adding this to my watch list.
REITs must distribute at least 90% of their taxable income annually to shareholders as dividends and distributions. At least 75% of the REITs’ assets must be in real estate, cash or U.S. Treasurys, with at least 75% of the income coming from rents, mortgages or other real estate investments.
This has a history of topping in July...
$iyr $drn $drv
Pay close attention to real estate- It is due for a cycle low somewhere around early-mid 2020. Because the cycle peak is late, I would venture to say that the move downward could be accelerated. How low it goes should reveal how bearish (or bullish) it is.
Price trend forecast timing analysis based on pretiming algorithm of Supply-Demand(S&D) strength.
Investing position: In Rising section of high profit & low risk
S&D strength Trend: About to begin an adjustment trend as a upward trend gradually gives way to a slowdown in rises and falling fluctuations
Today's S&D strength Flow: Supply-Demand strength...
Real estate has been booming along with bonds recently because of the widely expected cut in the Fed funds rate in July. I think that this move has already priced in the rate cut, and so if rates are cut, price will move very little. The risk is that rates are not cut! Check out the AUG-23 weeklies for attractive pricing.