XLF is now trailing behind the KRE . This topping formation has now triggered on the daily chart and is showing us there is a tremendous amount of risk in the banking sector.
Will we see a small bank blow up which causes contagion?
Schwab put out a great letter yesterday showing various ways to value the market. While the market valuation has improved slightly, on most measures, the investors are getting very little bang for the buck. I enjoyed the article very much and will give the link here if youre interested
www.schwab.com
In summary, market aint cheap.
Scanning over the big...
I like the breakout pattern that has formed here. Long entry would be on a break above the recent high. Targets would be the fib retracements above. Needs broad market support on the breakout. Not interested any more if price falls below the box. May trade the ETF itself or instruments within it.
XLF is in a huge rising wedge from a bearish point of view and in an inverted Head and shoulder pattern from a bullish point of view. Unfortunately for one side, this will move very fast and strong on one side. The information from this chart indicates it will be down, or to say on the proper way there is more chance to drop than to go up from here (this is a game...
XLF D1 - struggling to break resistance. Not a short signal, but worth watching if there will be developing selling pressure on lower TFs, and then reassess. The implied volatility is low, so maybe buying a put to limit risk to the upside.
XLF daily - there is more and more chance that financials will drop hard and fast. It just can't break out of the neckline and continue it's moving up. It pops twice in the last 3 sessions above the trend line but those trend lines are very strong resistance areas.
XLF is close to decision time, meaning will bulls win and this will trigger an inverted Head and...
Financials have quietly outperformed since the summer. Are they now getting ready for a breakout?
The first pattern on today’s chart of the Financial Select Sector SPDR Fund is the series of higher lows since early November. That could suggest buyers are willing to pay incrementally higher prices.
XLF has pushed against a slightly rising trendline that runs...
XLF (banks) monthly was in a huge symmetrical triangle which start to form at COVID lows and January did break out which is bullish while the month finished slightly above last month's high which is also bullish as we got higher highs and higher lows or trends.
However, volume is not the best and doesn't confirm too much this price action much as on break out of...
-XLF daily what a move today. First, we gapped down at open, then we fall, then buyers came in and drive XLF to 0.6% up, but then the price hit major resistance, neckline, and drop hard on strong volume. The last hour's volume was a huge drop and the volume was like 4 hours before together. When I checked 1 H candle I can say retailer traders played the whole day...
XLF daily is forming two major patterns. Both are in their extreme. The bullish one is inverted Head and shoulder and the second is bearish and its rising wedge. Price did fall this week as we expected in the last analysis and did find support at 20 and 50 days MA and at the trend line and did bounce from those lines.
XLF is above all major MA which is...
XLF indicates two possible patterns, bullish and bearish.
For a bullish option it develops a large inverted SHS pattern, while for a bearish one it develops a rising wedge.
The last trading day last week price gaped down due to bad financial reports, however the day closed in the positive with solid volume which is bullish.
The RSI is in overbought territory and...
XLF has broken downtrend, successfully produced a Gartley retest, and now closes just above the cloud, and just above prior swing high. Financials must be looking ahead to some respite in FED rate hikes, since they are sensitive to short term interest rates. Along with SOX, XLI, showing similar trend breakouts, this is encouraging for bulls.
Today is the end of the first trading week of 2023. What sectors are leading the pack and which sector is going down? Here's a 1hr ext chart comparison, with the tickerTracker MFI Oscillator set to 20, color coordinated with these 11 sector etf tickers.
XLF financials
XLRE real estate
XLE energy
XLU utilities
XLK technology
XLB materials
XLP consumer staples
XLY...
