XLF trade ideas
XLFClosed right at previous resistance today. Weekly 200 sma just above. MACD about to cross and RSI wanting to close above 50. Make or break tomorrow imo. No position.
GoNoGo Charts sees Financials playing catch upThe financials sector looks as though its finally started to catch up with the overall stock market. This is a daily GoNoGo chart of XLF.
You can see that it has had a much longer, more drawn out recovery than most of the S&P sectors and has still yet to make up more than about half the fall.
Compare that to the tech sector which is right back, close to the highs of February.
The GoNoGo chart reflects this, with the GoNoGo Trend indicator flagging a “Go” most recently on May 26th.
The GoNoGo Oscillator is also now strongly positive and has been for several bars.
XLF Bulls have to be HappyAnyone increasing their exposure to the financials sector has to be pleased with the recent new high established in commodities..
Do we hold 200 day and go 310 or do we break 200 All up to XLF ,IWM and they are weak
please watch TVIX may be able get that 1000 again
XLF Short Position 13:21:06 (UTC) Thu May 28, 2020XLF Short Position 13:21:06 (UTC) Thu May 28, 2020
Banks rally atlast $25 and to $26 coming from QQQ rotation$XLF After all these days $C $JPM $WFC will be got the message to participate in the rally with money rotation from covid plays like ZM, TDOC, LVGO, NFLX
XLF - bullish financialsIt might need a break above 23.67 to add a bit more weight to this count but as I look through the markets this morning there seems be some strength flowing into the financial stocks and away from the tech stocks.
still in daily downtrend for financialsMy short position is playing out the recent low was only 4 cents off but still counts looking for a lower low below 20.29. It would be a fairly good time to open a new short on financials after the recent rally. I’m doing it by faz 3x bear fund.
Look out below. Financial sector is sending huge warningThe financial sector is sending a huge warning to all skilled technical traders. You think this big rally in the NQ, ES, YM and other is really the bottom of the market?
The stock market is based on perceived forward earnings, guidance and performance of individual stocks/companies. The COVID-19 virus event has blown a huge hole in the bottom of our boat. 40+ million US working out of jobs. Income levels dropping. Stocks rallying? WTH?
The reality is that risks are quite high that a broader economic collapse will take place over the next 6+ months as the real collateral damage comes into view.
TRAN and XLF are showing that the markets are not stable. HUGE risks continue just below the surface.
You have been warned.
Weekly bear flag playing out on banksboth tech stocks and spx are going sideways but xlf is in a strong downtrend. I am personally long faz, the banks have the most downside fundamentally. They loaned money at cheap interest rates below inflation to a bunch of over leveraged broke Americans. We will have to wait to see just how bad default rates get with highest unemployment ever. I expect the default rates to break records. These guys are gonna need another bailout.
XLF Break out? Cup and handle and short term retracement. I'm looking at a simple move to the upside for XLF. Cup and handle looking clear on the hr. Will scale out 80% as it reaches the cloud. using 8ma for guidance.
XLF back to 21 againThis one tricked me several times... Will not play in the near term. Just an observation.
Update: Nice Bounce. GAP reached. Now adding set of shorts $$XLF GAP reached (Yellow Zone). Now adding sets of shorts (Red Boxes) and moving the targets (Green Zone)
Update: $XLF, $FAZ, $FAS, (taking first set of Profits) Taking first set of profitsand moving again Stop loss. Also expecting a bounce and perhaps fill the GAP (Yellow Zone). Then I consider add new positions keeping downtrend.
Holding Short positions. Weakness on XLF & Financial sector.Holding Short positions. Weakness on XLF & Financial sector.
Banks to bring the whole mkt downXLF barely holding up in bearish trend. This is a true Canary 🐤 in the coal mine and barely breathing to survive. All bets are off on indices if this breaks $21.20
