SRS Pullback Opportunity

Last week I listed a lot of major stocks that are bucking the overall market trend and heading down as the breadth readings have suggested, several of those stocks were real estate stocks. SRS is a leveraged short on real estate.

 SRS 1 min-the pullback appears to be under accumulation-1 min

 SRS 5 min

The daily chart showing a bullish wedge that has broken out and a small pullback that offers a good Risk:Reward ratio in this area.

SRS continues to be one of my favorite ETFs for an implied measured move of approximately $32.