XLF POTENTIAL SHORTS. IF THIS DOES NOT WORK OUT TRADE THE SIMPLE BREAKOUT RETEST. BANK EARNINGS COMING UP ON JULY 14TH.
XLF trade ideas
XLF Bat formation Potential reversal to 24.2 possible. XLF bat formation complete. Potential reversal to 24.2 possible
Financials about to complete a second bearish harmonic patternNotice the Sell Zone shown in this chart
The financial sector is forming a a descending triangle.This is usually a bearish pattern. The big trade is to wait for a breakout to either side. A short position can be opened here with a stop loss above the descending line. I will open a long position in FAZ (3x Financial Bear) at the market open this AM.
XLF surges on house vote, but don't buy into the move.XLF, the financial services ETF, surged as the House voted to repeal Dodd-Frank. However, financials are staring a wall of delinquencies in the face as the delinquency rate continues to rise higher. This will have a bigger effect on the market than passing this legislation. The delinquency rate continues to rise after the surge in lending at the end of 2016.
I am looking to short XLF. The economy is not as robust as most participants wearing blinders want to believe. Given this, XLF is a short at these levels. There will be more data coming through that iterates where the economy truly is.
XLF surges on House vote repeal Dodd-Frank, but don't buy.Dodd-Frank got closer to being repealed and likely the Senate will follow suit, from what I he been reading. However, the financial sector is facing a wall of delinquencies as the rate continues to climb. That would be a far greater market mover than the repeal of the legislation that would ultimately prevent financials from getting a wall of delinquencies. It is kind of ironic, if you think about it.
I am more interested in selling financials and this may be good starting point to enter a short. The financials are facing dire times ahead. This is a short-term boost that allows a short seller a better vantage to sell.
XLF, will Mdm Y do special stunt again?9 days ago, my XLF post shown that price has broken down the 2009 uptrend line twice in 3 months.
To add matter worst, we have a 2 consecutive weekly close for the recent break down.
Technically, i find this really unhealthy even if Mdm Y decides to do something to push the price back into uptrend line
Financial Sector Could Drop ?A probable Head & Shoulder formation could be in place, with the neckline standing at 22.90$. if Broken ultimate target would be 20.50$.
XLF: preparing for a "sharper" correctionWith XLF hitting 25 Region - a long term resistance - it is reasonable thinking about a short via FAZ ...
Weak all weekXLF was weak in spite of money centers issued very good number. The price consolidates just above strong LT support at 23.00 Good time to plan short, to me it's gonna work both for momentum trades and swings
