SPG (the overweighted king of the REIT sector) bounced right off that daily uptrend line/bottom of the 60 minute channel that i highlighted earlier (click here to reference those notes).  Regardless of the expected bounce off support today, this continues to be one of my favorite trades right now.  Here are a couple of the previous charts along with today’s updated charts for both SPG and SRS.  on the SRS 60 min updated chart i have added a white horizontal support line in addition to the blue uptrend line that i’ve been tracking.  a more conservative trader could use a break below the uptrend line as a stop that should assure a small profit on the trade while a more liberal stop could be placed just below the white line, which is just shy of the original break-out/entry from the SRS 60 min bullish falling wedge.