Short term REIT wave count

StockCharts.com: Favorite Chart (IYR)

http://stockcharts.com/c-sc/sc?s=IYR

THOUGHT THIS DESCRIPTION OF MARKET INTERNAL MOOD WAS INTERESTING

Moreover, there may be a shorter time rhythm to the Dow’s moves since last November, with a low-to-low-to-high directional change occurring every 68 trading days (± 2 days). If this rhythm remains intact, the next reversal window is now through next Tuesday; September 18 (± 2 days). Interestingly, this time span encompasses September 22, the Autumnal Equinox, which expert analyst Paul Macrae Montgomery has for years identified as a period whereby neurological extremes emerge as well as the resulting actions needed to “ameliorate” such anxieties (crudely put, “stuff” tends to occur around this time period in nature and in humans, from earthquakes to interest rates).

StockCharts.com: Favorite Chart (IYR)

Playing it safe we still need a small iv pullback and then a wave v high, then crash boom splash.

Mike

 

VERY BULLISH REITs

NOT SURE WHAT THIS CHART TELLS other than it is reflecting positive sentiment.

 

CLASSIC ELLIOTT WAVE COUNT FORMATION