High interest rate is the catalyst to kill this sector.
Sentiment: Strong Sell
Care to venture a guess at a downside target?
The initial blow will bring the biggest and sharp drop. When 10 years treasury yield hits 2.52% or 2.57%, that is the point you want to cover the IYR short. I will say somewhere between $59 and $62.
Then we will be in a trading range as the yield will fluctuate between 1.98% and 2.52%. This will last 2 to 4 months, then we move to the higher trading range in fall, likely between 2.23% to 2.75%.