VNQ is close to breaking down vs Gold. Means Gold more favorable than VNQ if it breaks down.
Why it matters:
Assumption 1: If this long macro cycle rolls over, it is better to own Gold than VNQ.
Assumption 2: If better to own gold than VNQ, is it better to own Gold vs SPY? That too is about to roll over.
One of the core holdings in this growth-slowing environment is having a good day.
I'm long shares of VNQ that I don't really touch very often. Sometimes when I see them oversold I leverage up with calls, but I missed this recent bottom.
There was a break downward but that recovered quickly. It's now poking to the upside. I think this can be bought on any...
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!
Let me know...