You know after this past week's rally - I was more than surprised to see it be led by financials. I'm more bearish on the financial sector than I am every other sector combined. Even without the bias - everyone has a "dip" they can justify buying regardless of the PL it makes - typically, when one sector makes a new 52 week low 3 times within the past 4 months - you almost scratch your head at what the market sees lol. I can understand the investors still bullish on the fundamentals of the banks, that & the contrarian side of buying the under-performers of the market & all but.... makes me wonder whether I'm going crazy or everyone else is lmao. Nonetheless - $GS was the bank that caught my eye a while back, just because of the resemblance of the pattern correlated to the 2015 flash crash (whatever you wana call it). $PFG was another, but more-so a comparison almost mirroring the 2008 financial crisis. Regardless, I wanted to post one last of the financials to put the theory to the test because if there was any complacency I was willing to short right before the downfall - this past week was the time. Definite kudos though, because even in 2015 - there wasn't as much willingness to buy on the consistent weakness. If you're not convinced by the pattern comparison, or the price placement between moving averages, you probably aren't convinced by the underperformance of the entire financial sector being worse than that of $EM, but, to each his own I guess.
Trade closed: target reached:
It was pretty immense