SRS UltraShort Real Estate Daily Chart Falling Wedge Positive Divergence Inverted H&S

Just as Mark Twain, upon reading his own obituary in the newspaper, quipped that rumors of his demise were greatly exaggerated, so are the rumors of a real estate bottom.  The pink inverted head and shoulders targets 37-ish. Falling wedge and positive divergence bounced SRS to start April. Two gaps are left behind as shown by the neon green circles and a move slightly lower would finalize the right shoulder for the inverted H&S. Also a move down near the previous low will help eliminate that negative vibe shown by the red circle for money flow.

Price above the 20-day MA is bullish. Keystone has been in this one for a couple months, waiting for Godot, but still likes it and continues to add. Housing and real estate sector has not bottomed despite what all the media pundits say. Real estate should experience another leg down as SRS continues upwards. Looking to continue adding at 29.5-30.5 and simply wait unitl the catalyst or news hits to see price explode upwards and move thru the neckline at 33-ish and begin the trek to the 37-ish target.

Projection is a near term price adjustment slightly lower to fill the gaps which should set up the last entry area for the launch higher. Target of 37-ish for the weeks ahead when all the same media pundits that now profess an end to the real estate slump will then say that they warned you that the real estate sector had not yet bottomed. 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.