IYR

This is a chart of the Dow Jones Industrial Real Estate Index. The chart has primary resistance at about 28.00 and also a longer term downtrend line coming down on that level too giving it more resistance b/c the trend lines are converging. It is a key level, and the stock is getting too extended for me to think that it will break it... at least without pulling back first. ---- To play a pullback you could go long SRS, it's 2x short this index. If there is a pullback, and IYR makes another attempt at breaking this key level of resistance, URE is 2x long this index. ---Here are some charts of IYR.




I also have a daily chart up to show the significance of the downtrend line....