XLF trade ideas
XLF - banks not looking good 6-12moPotential for a fakeout here but my hypothesis is that we see new local lows on XLF by the end of 2020. You may think the banking sector looks poised for a rebound if you look at the weekly candles, but the monthly candles look like this dump could just be getting started.
Short XLF
Entry: $23-25
Stop: 26.50
Target: $18.50 - $13
Assess in October, adjust 18.50
HEADS UP.......THINGS ARE ABOUT TO TURN I stopped posting a while back cause markets were no longer markets. Now I see what is developing and its going to be a big problem.
XLFRejected by cloud bottom and then rejected by long term trend line. Breaking down 23 triggers short.
XLF Position Update: 13:10:10 (UTC) Thu Jun 18, 2020XLF Position Update: 13:10:10 (UTC) Thu Jun 18, 2020
XLF Position Update: 13:26:12 (UTC) Wed Jun 17, 2020XLF Position Update: 13:26:12 (UTC) Wed Jun 17, 2020
XLF Analysis Island Bottom Reversal + Bullish Momentum + Rejection of PivotPoint + Volume Spike at Dynamic Support
>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.
