Today could be a good entry for a short. 5 min/30 min chart shows Bullish Div.
Look at the past 5 years for this ETF. If past predicts future this stock is going to drop back to support under $86. Then there is the unusual options activity of 350 million dollars that one trader opened 40,000 contracts Sept. 86/81 put spreads. This is very tempting!
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Looks like the Federal Reserve will cut interest rates soon.
Sure, the Fed announced it was leaving interest rates put last week. But I think the Fed will take this one step further and cut rates in the near future.
The Fed lowers interest rates when it thinks the economy is weak. This makes it cheaper for businesses to borrow money and employ more people.
REIT's are looking like the first sector to definitively break the big uptrend since December 24th.
Big move here breaking out of 2 month wedge to the downside.
All momentum indicators are also pointing downward (macd, stochastic) and we've had demark exhaustion signals as well. Easy short entry here.