Financials charts have completely been rejected by the downscoping trend line. A weekly bear flag looks like it's about to trigger and send price action much lower. Since the daily chart is getting oversold, waiting for bearish consolidation is a wise decision if you are wanting to short. With the rise in yields recently, it's clear the Banks net interest...
Financials have been in the doghouse since Silicon Valley Bank failed in March, but now there could be signs of improvement. The first pattern on today’s chart of the SPDR Select Sector ETF is the falling trendline that began early last year. XLF’s rally through July battled against that resistance. It pulled back in August but has now pushed through that line...
Some interesting developments in the bank etfs today - XLF and KRE, worth watching on both a weekly and daily basis. Long term JPM looks like a head and shoulders may be forming.
XLF's trajectory is akin to that of IWM, with the primary distinction being the emergence of a 'death hook' pattern on a notably larger chart. This amplification in scale should, in theory, enhance the pattern's precision. Compounding the challenges for this sector, the price has dropped below both the 50-day and 200-day moving averages (MAs) with apparent ease....
AMEX:XLF Possible Scenario: SHORT Evidence: Price Action, Overbought RSI, Rejection on trendline. TP: 30$ * All the markets are ready for a 10% pull-back
To the top of this channel again, and my guess is we go back down one more time. I'm thinking similar for the market - down for a nice drop and then a smaller bounce up to create more long term sideways action. The financials may outperform to the downside over the next few weeks/months, but should find support again around 31 - so a 20% drop is what I'm expecting...
They'll just keep pumping them up.... they start to struggle? no problem here is some liquidity.... its really quite terrible, but this setup on the chart is bullish as much as I dont like it.
Nothing better for financials than a FED hike pause. XLF daily chart is experiencing a 21/50 EMA crossover (purple converging with green line), has crossed above the Ichimuku cloud, and sits currently right at 200 day EMA (red line), which is also a key Gann level. XLF could reverse downward off this 200 day EMA, but there is a low volume profile above, so it...
XLF.... I could on long diatribe about the Banking sector and financials and the economy... But I'm not You want to know why? (i'm going to tell you regardless) It's because deep down you know that the Banking system is a house of cards and these Bankers..JUST..CANT..RESIST..THEMSELVES SHORT XLF...for now...and then a Big Short (pun intended) later (i'll...
We are likely approaching the event that will finally close the bull!@#$ MMT chapter of investment banking. The XLF sector is the most important sector to monitor as the speed and magnitude of its decline will likely dictate how the rest of the sectors will follow. Despite what the FED, government and bankers want us to believe, the financial system is not stable....
As per weekly and monthly looks like a long term cycle coming to an end. Green zone ...supply zone... Red zone .. previous demand zone Yellow zone... big boys might want this Just a random guess.....
No thesis here beyond: * I'm bearish on the overall stock market, and * AMEX:XLF seems to be testing the top of a bearish trendline. I am not taking a position on this, but I look forward to seeing if it's down by mid-February.
Looking at this trading range, I've spotted a previous bearish cypher, a current bullish cypher. Price Action has retrace back to the Previous (B) leg of the Bearish Cypher. The Previous resistances, is currently acting as support for the D leg of the present bullish cypher. We can confirm this w/ the bottom of the Stoch RSI. I'm looking to buy put options on...
Daily MFI went overbought then rolled over. That's bearish. Most of the time that's the top, but it did peak higher in November after MFI went overbought, so it's not 100% guaranteed, but definitely looks bearish for tomorrow/Monday. Every bank except one went red on earnings today.