Macro:
The Short term spike in yields triggered a large selloff in REITS. As mentioned in the 10 Year yield post, The yields are likely to rebound until at least end of year which could put downward pressure on REITS.
Technicals:
USDH is underperforming the S&P which is setting up for a possible short across the board over the next weeks.
The bearish divergence YTD and the recent new low today suggests that price could start reversing from the uptrend YTD.
Ideally, a short position should be entered on a weak stock within that weak industry after a retracement to the 20 DMA and a downtrend confirmation on the day chart.
Initial target: the 61.8% fibo retracement to 148
The Short term spike in yields triggered a large selloff in REITS. As mentioned in the 10 Year yield post, The yields are likely to rebound until at least end of year which could put downward pressure on REITS.
Technicals:
USDH is underperforming the S&P which is setting up for a possible short across the board over the next weeks.
The bearish divergence YTD and the recent new low today suggests that price could start reversing from the uptrend YTD.
Ideally, a short position should be entered on a weak stock within that weak industry after a retracement to the 20 DMA and a downtrend confirmation on the day chart.
Initial target: the 61.8% fibo retracement to 148
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Short PCL
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