SRS Ultrashort Real Estate ETF Weekly Chart Oversold Falling Wedge Positive Divergence

SRS ETF weekly chart has paid its dues over the last couple years. The housing bubble popped in July 2005, going on six years ago, but the true adverse effects were not felt until late 2007 thru early 2009, then, as the chart above shows, the real estate market received love again from the March 2009 market bottom until now. Last week the new home sales were pitiful placing another dagger in the construction and housing-associated jobs outlook.

This chart has built a sturdy base and the positive divergence is going to make the upside much more attractive moving forward. The daily chart has turned up as well. Hence, up SRS means down housing market, therefore, the Case-Shiller report coming on Tuesday morning must be some nasty news. We'll find out soon enough, 9 AM, 3/29/11. 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.