Monday, August 22, 2016

Real Estate (DRN) Bursting Out Of The Gate

Noticed this gem this evening for Real Estate ETF DRN which had a not-so-special day and with EMA's bearishly aligned people could be forgiven for being a little down on it. I  have two problems with this: one, a bullish declining wedge has formed, and two, the volume on DRN was disproportionately high (273,000 shares today against an average of around 60,000). Something's up and I'm not sure what but I wouldn't bet against a move like this!