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SPDR Select Sector Fund - Financial

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XLF trade ideas

Near the completion of a long-term 5 wave sequenceXLF is at its final stages of an impulsive move that started back in 2009. Long-term traders I believe should not be bullish and look to protect their positions either by reducing exposure or by raising their stop protections. I believe over the coming years we will see XLF below 20$ again. The April low is an important support that if broken will confirm the end of he impulsive wave and the start of the correction that could push price even towards 15$
AMEX:XLFShort
by trading2day
Long XLFFor the past few months bank stocks have been getting hammered by the falling 10 year despite solid earnings beats and the raising of the Federal Funds rate by 25 basis points to 1-1.25. However, since the bottom of the XLF in late May @ 23, the XLF has been successfully able to hold its support and now after the stress tests results showed positive cash flows for the major banks able to withstand a recession of great magnitiude, many hiked dividends from anywhere between 3-100% while buying back tons of stock, solidifying strong confidence by management to shareholders and potential investors that their financial health is the best since pre-recession of 2008. On a technical side, we see a breakout of the dreaded head and shoulders pattern in a bullish manner by holding the 23 support (the neckline) and busting through the head of resistance at 24.02 on high volume and strong relative strength indicating the price movement is legit and not a head fake like it was in May where the MACD crossed in a bearish manner and RSI quickly depleted indicating a roll over top. I am bullish on XLF to 25.29 and then to 28.87 over the next 6-12 months, indicating an increase of approx. 15% on at least one more rate increase this year and potentially 3 next year pending continued job growth and rising inflation, as well as the idea of the Fed re-structuring the balance sheet and unleashing trillions of bonds and mbs onto the market from the recession of 2008, which will push the 10 year yield higher and widen the 2-10s spread further profiting the banks.
AMEX:XLFLong
by rizzoant
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.
AMEX:XLFShort
by ByDHTaylor
2
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.
AMEX:XLF
by ByDHTaylor