XLFDeath cross doing death cross things. $31 was pre-08 & pre-c0vid highs. Needs to hold that level, otherwise I would assume more downside for financials.
XLF trade ideas
Bullish Cypher target $37Looking at this trading range, I've spotted a previous bearish cypher, a current bullish cypher. Price Action has retrace back to the Previous (B) leg of the Bearish Cypher. The Previous resistances, is currently acting as support for the D leg of the present bullish cypher.
We can confirm this w/ the bottom of the Stoch RSI.
I'm looking to buy put options on $faz ( the financial 3x bear ETF ) near the open bell Monday Morning.. I can also buy shares in the premarket of $xlf or call options. It will depend on the price action of both at that time.
XLF UpdateDaily MFI went overbought then rolled over. That's bearish.
Most of the time that's the top, but it did peak higher in November after MFI went overbought, so it's not 100% guaranteed, but definitely looks bearish for tomorrow/Monday.
Every bank except one went red on earnings today.
XLFDeath cross on financials. I'm not a huge "death cross" = bearish, "golden cross" = bullish guy, but given the history of these events on this ETF and where price is currently at, I think this will end up being bad for bank stocks. I'm short via WFC.
XLF H4 Trading The Corrective SequenceIn this update we review the recent price action in #XLF and identify the next high probability trading opportunities and price objectives to target
XLF is ready for a new major dropXLF is yet again in a rising wedge. It seems financials like rising wedges :)
XLF is rising on lower volume which is very bearish, especially after such a strong drop which indicates more pain to come. RSI did recover after oversold territory. Everything is set for JPM report tomorrow.
If the rising wedge falls out, first target is blue dotted line and if that breaks ohhhh
XLF is sick (weekly)The recent selling volume of XLF is surpassed only by the COVID lows of 3/20 (purple circles). XLF currently is showing a little flag at a Gann confluence point (right yellow circle) and at a pivot point from pre-COVID (left yellow circle). RSI trend is negative, although it has retraced off an RSI(12) oversold level. If XLF falls from here, it will have formed a bull trap off the current flag. XLF needs some help to recover from here.
XLF: Financials see a bounce hereWent oversold into a range that has been supported twice in the last year. Latest low is higher than the last, & the current channel looks bullish. Obviously banks are in trouble but I think we get a cash injection pump to at least the $33.57 fib. This is a risky play, but the TA supports it. A small position wouldn't hurt! Best of luck & God bless!
$XLF - Can 200 WMA still provide supportSince 2012 200 WMA has provided support with the exception of 2020 covid crisis. Its testing 200WMA again. Can it still provide support this time around?
XLF makes senseWhen you look at the chart in detail over the year this is something the average eye should have seen anyways... Long story short, the banks always bounce back... looking for some bottom here and strong buying from retail and large institutions and a bounce back into the end of year... remember BAC was $20 in 2020 and went the distance with issues...
Warning, warning, financials in huge problemsXLF was for some time in a bullish and bearish mode opportunity. There were chances for bulls as it was close to triggering the bullish reversal pattern, the inverted head, and the shoulder, but it failed. On the other side, bears did have their reversal pattern, a rising wedge that was broken yesterday, triggering a sell signal. This is a zone/situation in which XLF could drop really hard and really fast.
Volume is increasing on the drop, which is bearish.
We are still above the 50-day MA and BigRed, which is neutral due to the fact we are below the 20-day MA.
RSI is dropping hard, signaling weak market conditions.
MACD is ticking strong red while the MACD line starts to fall hard.
Overall, with the triggering of the rising wedge and breaking below the trendline, there is a really small chance for bulls for some time now. There could be some kind of retesting of that broken trendline, but only retesting after which I expect the price will dive just like that. The first major support should be where there is BigRed and a block area from the end of 2022. The chances for that to hold are not big.
For bulls, the only last hope is that we don't make a lower low (blue dotted line), but it is only a hope as it seems for now.
AAPL/MFST Key Resistance for $QQQ. XLF Houly Bullflag, 25BPS- 7.5% move on QQQ/NASDAQ in 4 days. AAPL and MSFT now hitting key resistance, will be watching to see if it can break above or not for QQQ to continue.
- likely a slight pullback hourly consolidation for QQQ before attempting another leg up.
- after ECB hiked 0.5% this morning our rate hike of 25Bps increased to 80% chance this morning.
- XLF hourly bullflag still possible need to see bulls show up and hold above 0.382 fib
- as long as hourly trend is intact for the bulls on QQQ / SPY / SPX there is no red flag at all for the bulls.
Financials Revisit a Long-Term LevelThe past week’s selloff in banks has inflicted some punishment on the broader financial sector. But how severe is it? Will the crisis become an opportunity for patient buyers?
Today’s chart of the SPDR Financial Select Sector Fund might help answer those questions. It uses weekly candles to help provide a long-term perspective.
The main pattern with potential relevance is the price area around $31. It was the high on two notable occasions: before the financial crisis in 2007 and immediately before the pandemic in February 2020.
Notice how XLF tested and held this critical level in June and July of 2022. The index briefly fell about $1 below it in October but recovered after a few weeks. Those previous bounces may suggest that old resistance has become new support.
Fast forward to March 2023 and XLF is back in the same neighborhood. This morning saw a probe as low as $30.90 before prices rebounded.
Given that the current low is slightly above the October trough, the result could be an inverted head and shoulders basing pattern. (See the white arrows.)
The 200-week simple moving average (SMA) is the other potentially noteworthy pattern. Notice how XLF bounced at this line at other moments in 2016 and 2018. (See the green arrows.)
Standardized Performances for ETF mentioned above:
Financial Select Sector SPDR® Fund ( XLF ):
1-year: -7.27%
5-years: +23.73%
10-years: +150.14%
(As of February 28, 2023)
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Has XLF caught support after todays drop?To be honest i don't know where XLF will go from here. With my current skill level and studies, I think we can go a little more lower. What do you guys think? Comment Below
XLF - FinancialsIn case you're wondering what caused the tank today, financials led the way.
Unfortunately, I don't think SI will be the only bank to go under, I think this is just the beginning. We're going to see banks go under because they lent money to garbage companies at low rates. A lot of these companies are gonna go bankrupt, like BBBY, W, PTON, AFRM, etc and as they go belly up, the banks take a loss.
I think today is just the start. That being said, XLF is now oversold on the daily so it probably gets a bounce.
A Line on a Chart 👹I want to be careful not to pile on amid the selloff that has taken place in the last couple trading sessions.
The point here is that bank stocks look unhealthy overall. I am looking at banks to continue to selloff, until otherwise noted.
Be careful! Short the rip!
Robert Kiyosaki & Peter Schiff right -Hard times make strong menXLF financials, Stocks to GDP and stocks to gold, all tell the story.
Our debt based system is bottlenecked. More money is 'needed'.
XLF (Banks)If you notice , late Friday banks like JPM and WFC started to catch a bid.
Part of the reason for dip buying was that XLF bounced off .618 at 32.45.
XLF is oversold on the daily but no where near as bad as XLV.
Technically we are as oversold now as we're back at October lows on the daily chart.
Unless we break 32.45 , nit a good idea to short banks ... looking for a 2-3 day bounce here
super clean head and shoulders D: xlfdoes it get cleaner than this?
thank you silver gate
trend is higher highs and higher lows.
all a technical pattern does is observe change.
XLF - Technical Breakdown in finacialsXLF 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?
$spy $xlf Failed breakoutFrom failed moves come fast moves in opposite direction. As financials go, so go the rest of the market....eventually
