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Good morning all,
Interesting correlation between Norman's work and some
cycle analysis I did when I was in the real estate investment business.
See attached. There is a very nice 16 year cycle in REIT stocks (the chart
is quarterly of the NAREIT equity index), along with corresponding 1/4th
harmonic 4 year cycle. The latter also exists in stocks in general.
The next 4 yr. low is last quarter of 02. And the big cycle next bottoms
in the last quarter of 06.
Threw in a couple of other things just for kicks, a
Schiff pitchfork that fits just beautifully, and Log MACD showing divergences
from the 80s to the 90s.
Have a nice weekend,
Chris
p.s. If anyone ever wants to play around with REIT data,
a ton is available for download from NAREIT.com. Also, I have a bunch of
sector indices, etc. that I created a few years back.
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Attachment:
Description: "REITS.gif"
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