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SPDR Select Sector Fund - Financial

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XLF trade ideas

XLF, Financials Signal a Trouble AheadXLF is an ETF that tracks the financial sector - one of the largest sectors in S&P. The chart reflects a strong rejection from a major HVN (high value node) as well as the level where the downside conviction had started back in December 2018. The price has closed right at the edge of the large value area. Usually, a bounce is expected. If the level gets accepted the price will start climbing up back to the top of the box otherwise we may see filling the gap and retest of the next box down below. 2 Major sectors Financial and Technology keep the S&P at higher prices, one of them has started to show its weakness. If the Technology starts to follow we will see a significant weakness of the index.
AMEX:XLF
by SviCapital
The #Fed Is Saying the Cycle Is DoneToday's FOMC minutes, and subsequent conference, was enlightening. The Fed has signalled that there will be no additional hikes in 2019, which the market had already priced in. Additionally, the Fed's quantitative tightening ( balance sheet reduction) will be tapered and expected to end by the end of September. The bid-to-risk was short lived as the SPY and DIA closed negative, and QQQ was well of session highs. There was a frantic bid to treasuries, which The Macro Strategist have been advocating for months. Cyclicals have lagged the 2019 rally, and they received no solace from Powell & Co. The problem with the Fed's complete withdrawal from monetary tightening comes at a time when, much like ECB's Draghi, was forced to admit the best of growth and inflation are beyond us. Financials were slammed post-FOMC, and they will test minor-rally support of $25.86. The near-term TACVOL range sits 26.99/25.88 while the intermediate range 28.19/23.07 which would target to the downside. Notice, XLF is tracking the eurodollar 2019 lower ready to price a lax Fed.
AMEX:XLF
by TheMacroStrategist
Financials are a good Proxy for this market $XLFDecision time is approaching in the Fins and they will most likely show the way for the rest of the market. Volume has been steadily falling indicating exhaustion is near, whether it is by buyers or sellers remains to be seen. Personally I favor buyer exhaustion, which would lead to a test of 200MA hourly and the fib at 24.85ish. Seller exhaustion would target 27.50. Break of the triangle is key, but beware fakeouts. Whichever way XLF decides, SPX should follow. Upwards it could squeeze as high as 2870, downwards the familiar 2500 area awaits.
AMEX:XLF
by Quant1212
Financials (XLF) Bullish Wedge or forming Head of H&SFinancials have sputtered as of late, and this can be interpreted in two ways: Scenario 1: This is a bullish wedge and because of expected future interest rate hikes financials will break out and create new highs in the $32 -$35 range for the AMEX:XLF . Supporting this is the RSI hit lows previously seen on 3/22 and all the way back to the beginning of 2016. Stoch has also recently hit a low and moving upward. Further, the selling pressure has been strong but the stock has remained in the bullish wedge pattern. Scenario 2: Selling pressure will break through the wedge formation and the stock will retrace to the ~$23 level. XLF has declined following almost every recent interest rate hike. Stock will retrace to $23 then bounce off support and subsequently fall after hitting resistance (previous support line for wedge). In the market we are in, I would error on the side of the trend (bullish). However, based on the way financials have behaved as of late, I would not be surprised if scenario 2 would occur. Either way, breakouts either way could be quite profitable if the proper stops are put in place.
AMEX:XLF
by myfye13