Upside Ahead for SRS UltraShort Real Estate ETF

By: Mike_Paulenoff

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.

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By Mike Paulenoff

Mike Paulenoff is author of the MPTrader.com (www.mptrader.com) , a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of

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