SRS Ultrashort Real Estate Weekly Chart Falling Wedge Oversold Positive Divergence Inverted H&S

SRS is the double inverse of the real estate sector. Thus, if SRS moves up, the real estate and housing sectors are moving down. This chart shows a falling wedge and positive divergence that places price on the launchpad for a bounce. Unfortunately, this outcome means the real estate sector will be beaten down.

The talking heads are throwing confetti proclaiming that the housing sector has permanently bottomed. Do not count on it. This chart shows the opposite and that the housing sector funk and weakness should continue for the foreseeable future. To paraphrase Mark Twain, the pronouncements on a housing bottom now in place are greatly exaggerated.

The pink inverted H&S targets 47-ish. The green inverted H&S targets the 75-85 zone depending on if the HOD or closing price is used for the neckline at 62 and 56, respectively. Projection is for SRS to move sideways to sideways up for the months ahead. 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.