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

SRS daily chart is an inverse of the real estate market. Weekly chart is set up with positive divergence across the board, just as the daily chart is above, so SRS is setting up on the launch pad. The LUMBER chart has fallen a stealth 30%, from over 320 to 230 in the last month; you don't build houses without lumber.

Thus, things are setting up for the next leg down in the housing market. Tomorow is the Case-Shiller report, lately these two Gloomy Gus's have had less than stellar news to report with their index. Since the SRS charts want to bounce now, the Case-Shiller report must hold some ominous news. We will know in a few hours. Regardless, as the days and weeks progress, SRS will move up which means the builders will weaken. 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 financial advisor before making any investment decision.