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ProShares UltraShort Real Estate Message Board

  • keybotthequant keybotthequant Jan 13, 2012 7:28 AM Flag

    SRS Charts Positive Divergence -- Good to Go

    SRS continues to complete its basing, it's good to go now.

    Daily Chart Falling Wedge Positive Divergence Inverted H&S:

    The blue falling wedge and positive divergence is bullish. Price is on the launchpad ready to take a ride upwards. SRS is an inverse ETF so it moves opposite the housing market, therefore, a happy chart here means trouble and woe for the housing sector moving forward.

    The pink inverted H&S targets 41-ish. The green inverted H&S targets 60. Projection is for price to move sideways to sideways up for the days and weeks ahead, which means the long housing funk will continue along and likely worsen.

    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.

    For SRS charts use search box for keystone speculator.

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