• 2 hours Peru's Mining Industry Pummeled As Coronavirus Cases Surge
  • 4 hours Why The World Is So Divided In Its COVID-19 Response
  • 21 hours Equities Cheer Stellar Jobs Report, But It May Be Fleeting
  • 2 days Is Tech Billionaire Peter Thiel Done With Trump?
  • 2 days Musk Takes To Twitter To Troll The SEC
  • 3 days Lunar Mining May Commence As Early As 2025
  • 4 days Immigration Will Go Bust Without $1.2B Bailout
  • 4 days The Economics Of The Space Race
  • 5 days Why The World's Central Banks Aren't Yet Sold On Renewables
  • 6 days How Much More Cash Can Uber Burn?
  • 6 days Inside The Biggest Counterfeit Gold Scandal In Recent History
  • 6 days EU-U.S. Trade Relations Are Deteriorating
  • 7 days Over 184 Companies Have Bailed On Facebook
  • 7 days BP Sells Petrochemical Business For $5 Billion
  • 7 days U.S. Moves To Secure Domestic Rare Earth Supply
  • 8 days E-Commerce Explodes As Boomers Go Digital
  • 8 days Major U.S. Cities Are Turning To Renewables
  • 9 days Economic Reopening Backfires, COVID Surge Snaps Recovery
  • 9 days How Are Low Car Sales Impacting The Metals Market?
  • 10 days Are Gold Stocks Still Undervalued?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  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