IYR Intermediate Term Trading Model Fresh Sell Signal - Aug 22 Yesterday IYR closed below its Fibonacci reversal window while triggering a fresh Sell Signal in its Intermediate Term Trend Model. The IYR Sep 16th $100P is trading around 2.75 and with almost four weeks to expiration has attractive upside potential. The last Sell for this model was on Apr 27th, shown as part of Wave (1) down on the chart, taking price from $106 on Apr 27th to $86 on Jun 14th. If a Wave (3) down is unfolding this next leg of decline should exceed the May-Jun decline in both size and speed. At a price of $86, the IYR $100P will be worth at least $14. The target for this next leg down is mid-80's to mid-70's between Sep 16th and Oct 21st.
