SPRD S&P Bank ETF daily chart looks bearish50-DMA has topped out and is now sloping downwards.
The rising trend line was breached in mid-May. An attempt to take back the rising trend line failed.
We also have a bearish breakdown of the triangle formation.
The bearish price chart suggests bank stocks could lose altitude in the coming days. This goes will with the flattening of the treasury yield curve.
Banks
WFC 4HR Chart + Banks up weekWent Long Last Friday $55C and then opened position for $54C today.
Looking at a gap fill around 54.64 with possible continuation to 55.6 for next week.
Nice ascending triangle pattern with 53.45 being breakout area.
Based off todays move I see that and more to come.
-TheTradingNInja
Ripple breaks out of triangleRipple recently broke out of a triangle formation and breached through the 50 and 38% retracements along with long term support lines V and W.
We met resistance at diagonal line 0 and are currently building support at line W
I suspect we build some support between lines W, X and the 38% retracement, as we continue to test diagonal line 0 in zone 2
DEUTSCHE BANK wave 4 might be over.There are increased chances that wave 4 was complete in Deutsche BANK right on the 38% Fibonacci retracement. The recent decline from 19.79€ is impulsive with 5 waves complete at 17.07€. I expect a bounce towards 18-18.50€ for wave 2 and then a strong wave 3 downwards targeting 15.50€ first and then 13.80€. Stop for this idea is the recent high. Confirmation will come with the break below 17.07€.
XLF. Welcome to hell!I will try to call a multi-year top on the XLF fund. Will short from 25, targeting... Probably, 12.
But my main question is: was the whole movement from 2009 to now a wave 1 or it was a B and we still wil see a Wave C? If that was a B, then we can probably say: welcome to hell, banks! Hope you enjoy your stay here
XLF gonna hit new high XLF sees strong momentum on Tuesday trading and there's support @22.85. Trump's policy will benefit the financial sector anyway and we are expecting to see a pullback+bounce back to previous highest level and break through into a new territory!! Wait for the pullback to build the portfolio.
Ending of the Goldman Sachs rallyGoldmans Sachs had a great really from November 2016 until now. The chart is moving sideways now and shows singular sell signals . The investors are less modifying their $GS positions. They make themselves ready to close their position. The sideways chart shows irresoluteness about their actions.
RBS potential to reach 99$ price areaFor your long swing account. You will have many opportunities to add more to the trade so still once reaching 1:1-or-more ratio remember to consider taking profits to remove your risk.
BAC next stop 23.45?Since we keep moving higher I identified a flag pattern on the daily and 4H chart. Now we are breaking out of it and the next move should be equal to the flag pole which ends at 23.45. Personally I don't trade that kind of pattern but maybe someone of you guys out there is looking for some short to medium term targets to take profits. I am still looking for 27.50 longterm though (see previous post)