One Sector Everyone Forgot About 📈 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by Dylan Tanen.
When adjusted for dividends, the Real Estate Select Sector ETF (XLRE) is on the verge of completing a multi-year cup-and-handle pattern.
The sector has largely been forgotten about, but select areas of real estate have quietly shown persistent strength all year, particularly health care and industrial REITs.
XLRE came under pressure today as interest rates moved higher, but if yields begin to ease, it could provide a meaningful tailwind for the sector.
The Takeaway: On a total return basis, the Real Estate ETF is quietly approaching a major breakout.
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