the IYR active short trade has set up in what appears to be a bearish pennant or flag type pattern.  i could have drawn this one either way but show it as a bearish pennant on the updated chart (last one) below.  if so, prices are starting to break below the bottom of the pattern and the projected measurement would bring prices well below T1.  i have also added a level of minor but notable support (dotted line) on this chart that is just below this continuation pattern and we still have T1 support (first target) just below that.  however, i currently favor at least T2 on this trade.