the posts on this site continue to be light mainly because not much has changed in the last few days;  the market is not offering a very favorable risk/reward profile on either the long or short side.  in addition, i continue to work on the back-end of the site along with some other non-trading related projects.  things can, and often do change quickly in the markets including the technical picture so i will continue to monitor things and share anything that looks compelling.

as far as new trade set-ups, i have a few longs and shorts that i am watching which i might post tomorrow or later this week.  regarding sectors, here’s a 4 hour period chart of the IYR (reit etf) showing what could prove to be a bearish topping pattern in the latter stages of formation but still needs a little more work to confirm (notes are on chart).