IYR Real Estate Sector Daily Chart Negative Divergence

IYR real estate sector daily chart receiving a big negative divergence spankdown over the last couple days. Looking back at the October-November behavior, IYR peaked with the stochastics and histo flatish but the RSI was long and strong. The RSI typically forces its will and it wanted to see another higher high after November. In late January into February price moved higher. This allowed all the indicators to set up negtively diverged and create the big spank down that just occurred.

ADX showing a strong trend for the upside for the November top, and the February top, but that strong trend is now disappearing. Perhaps a right shoulder will form by summer time that is similar in price to the October-November time frame. The 200 MA will provide support in the 53-ish area. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.