Elliott Wave Analysis of XLRE (Real Estate Select Sector SPDR ETF)

By: WavePatternTraders

XLRE

This index is one of the more cleaner markets and showing a potential impulse wave (5 wave advance) from the Dec 2018 lows, whilst many other sectors and US stock markets have lagged this index, the clarity of this particular index, actually highlights a potential setup for a reversal and an opportunity for those that want to bet on a potential decline.

The recent gyrations over the last few days appear to be showing a possible bearish wedge. Elliott wave users call that an ending diagonal, it's a common pattern that is seen in a 5th wave of an impulse wave. A strong move below $36.00 - 35.50 would be the first clue to supporting a move lower.

DRV

I came across an ETF that may be of interest to those that are interested in participating on a decline for XLRE. As XLRE moves lower, the ETF called DRV would move higher. If a peak is setting up for XLRE, then this could be a great opportunity to capitalize on a decline on XLRE.



Note: 

If you do not fully understand how the 3x leveraged ETFs work, then I strongly advise against purchasing DRV. Please do your due diligence.

Until next time,

Have a profitable week ahead.

Click here to become a member

You can also follow us on twitter
What do we offer?
Short and long term analysis on US and European markets, various major FX pairs, commodities from Gold and silver to markets like natural gas.
Daily analysis on where I think the market is going with key support and resistance areas, we move and adjust as the market adjusts.
A chat room where members can discuss ideas with me or other members.
Members get to know who is moving the markets in the S&P pits*
*I have permission to post comments from the audio I hear from the S&P pits.

If you looking for quality analysis from someone that actually looks at multiple charts and works hard at providing members information to stay on the right side of the trends and making $$$, why not give the site a trial.

If any of the readers want to see this article in a PDF format.

Please send an e-mail to Enquires@wavepatterntraders.com

Please put in the header PDF, or make it known that you want to be added to the mailing list for any future articles.

Or if you have any questions about becoming a member, please use the email address above.

If you like what you see, or want to see more of my work, then please sign up for the 4 week trial.

This article is just a small portion of the markets I follow.

I cover many markets, from FX to US equities, right the way through to commodities.

If I have the data I am more than willing to offer requests to members.

Currently new members can sign up for a 4 week free trial to test drive the site, and see if my work can help in your trading and if it meets your requirements.

If you don't like what you see, then drop me an email within the 1st 4 weeks from when you join, and ask for a no questions refund.

You simply have nothing to lose.

By Jason Soni AKA Nouf

© 2019 Copyright Jason Soni AKA Nouf - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.