XLF Analysis Island Bottom Reversal + Bullish Momentum + Rejection of PivotPoint + Volume Spike at Dynamic Support
XLF trade ideas
>BAD DAY FOR FINANCIALS<ElliotWaveFLATabc>3-3-5<CORRECTION<SHORTAs this title suggests. Things could get very bad for American Financial companies.
We are directly at the cusp. 2 scenarios play out from here.
This is the bearish scenario where we have JUST completed A 3-3-5 FLAT abc Elliot wave correction from v dumps.
We should see another leg down equal to the V DUMP , dump from here. This will complete the 3-3-5 Correction on the larger timeframe. The Primary (yellow) ABC.
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A = V Dump
B = Rally to here (flat correction itself, just completed)
C = Another drop 1:1 V Dump just beginning.
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A one to one Fib Based extension of the drop puts us ... at the bottom of the chart there. The C wave completion Down.
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Pull out your shorting pants chaps. One robot fist at a time.
XLF - What's next for financials?Closed out bullish options on NVDA, AAPL, and MSFT today as our bet on the rotations from airlines/oil to tech was successful.
With the upcoming federal reserve stress test results to be announced - what is next for the financials?
Today's XLF candle sits on the 0.382 fib. RSI dipped below w/ increasing accumulation - so could potentially be a BTFD situation to the next level. More likely than not will accumulate here for a bit until 6/25.
Regardless, entered GLD calls for 6/19 as the dollar weakens and VIX increased a bit today.
In summary - not sure where we are headed and what is the come for the rest of the week. Thoughts welcome.
My analysis for XLF on 2H TF, the start of a Bullish moveHi Traders, I'm sharing with you my vision concerning XLF, the downtrend has come to an end, now place for a big uptrend move after the consolidation has finished, the price will go up, waiting for your comments and remarks guys, good luck for you all :)
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)
