• 148 days Could Crypto Overtake Traditional Investment?
  • 152 days Americans Still Quitting Jobs At Record Pace
  • 154 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 157 days Is The Dollar Too Strong?
  • 158 days Big Tech Disappoints Investors on Earnings Calls
  • 159 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 160 days China Is Quietly Trying To Distance Itself From Russia
  • 161 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 165 days Crypto Investors Won Big In 2021
  • 165 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 166 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 168 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 168 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 172 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 172 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 172 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 175 days Are NFTs About To Take Over Gaming?
  • 175 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 178 days What’s Causing Inflation In The United States?
  • 179 days Intel Joins Russian Exodus as Chip Shortage Digs In
  1. Home
  2. Markets
  3. Other

Real Estate: An Important Juncture is Near

The RMS index (Morgan Stanley Reit) appears to be approaching a top in wave V of (V), but there are two other possibilities at this juncture.
1: The index could move higher towards the 800 area if the current move in wave (V) is wave (3) of wave V up.
2: There is a possibility of a larger corrective wave (IV) pattern with a pullback to the 500-650 area before another rally in wave (V) up.

The second chart is a closeup of wave (V) with 5 waves completing now, but the length of wave III is smaller than wave I. This is still valid as long as wave V ends before moving higher than 730. If we see a move higher than 720, then it is likely that wave III is still in play. A move higher than 730 would confirm this possibility.

The third chart below indicates that wave IV may be in play now, with sideways action to the downside to follow. Once wave IV completes, we should see another move higher in wave V to complete the move up. This count has a better look for wave III and is the likely path for the index.

Elliott Wave Chart Site - IntraDay Market Updates on the DOW, Nasdaq, S&P500 and HUI. To learn more on the status of Gold, Silver, HUI, XAU, and the USD, please visit the link for registration details - Registration Details.

The commentary and forecasts are updated daily, including intraday commentary and chart updates. Fibonacci pivot dates and cycle analysis is also included. The indices covered are the NASDAQ, DOW, S&P 500, Gold, Silver, HUI and the XAU. Additional charts cover the Nikkei, US Dollar (USD), 10 Year Treasury Note (TNX), IBM, Nortel, Microsoft, Ballard Power, Celestica, ATI Technologies, Biovail, Bema Gold, Newmont Mining and Agnico Eagle Mines.

Happy Trading!!!

Back to homepage

Leave a comment

Leave a comment