The ProShares UltraShort Real Estate ETF (NYSE: SRS) three-month pattern shows the price structure climbing into a key resistance plateau between 22.50 and 23.40, which if hurdled should trigger upside continuation towards 25.00 initially, and then to 29.00 possibly thereafter. My sense is that a powerful upmove in the SRS will reflect a renewed perception of deflation that is driven by the commercial real estate sector this time around. In any case, as long as 21.15 contains any significant pullback, I want to attempt to build a long position.
The Mid-Day Minute
Upside Ahead for SRS
Thu, Jul 9 2009, 05:34 GMT
by
Mike Paulenoff
- MPTrader.com
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