XLF has heavy resistance ahead

No thesis here beyond:
* I'm bearish on the overall stock market, and
* XLF seems to be testing the top of a bearish trendline.

I am not taking a position on this, but I look forward to seeing if it's down by mid-February.

Comment:

So far it only rose 4.7% higher than it was when I posted this idea, and is nearly back where it started. So far it's a nothingburger. Will continue to monitor. It's retesting the breakout from the trendline over the next few weeks.

Trade active:

Monday, March 13, 937am:

I just bought a Mar17'23 32p on this at 1.13

Breakeven price is 30.87

Might sell by EOD because I don't like holding through CPI (tomorrow)

Trade closed manually:

I sold this Put 2 days later at 0.86 (down 24%)
It never dropped as I had hoped it would