Drunkmonk

XLF shooting star top of channel $BAC $WFC $CIT $JPM $XLF

Short
AMEX:XLF   SPDR Select Sector Fund - Financial
top of channel / ABC or WXY complete from march lows after triangle breakout in late oct/early november. shooting star weekly. please post and correct me but zooming out i think its 5-3-5 ABC for W (2009 low to jan 2018) into an X wave and now completed X within WXY of the X macro..startin Y down to finish macro X.

August 20 $23P on $BAC for me but this thing might take longer than I expect considering W (within macro X of WXY from 09 low) went from jan 2018 - march 2020

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Thoughts on XLF now?
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Drunkmonk ajayypawaar
@ajayypawaar, i added July 16 $27 puts i think it will take a bit longer to get to 23. as far as the top goes i'm not sure.. im watching es1! complete what might be an ending diagonal to complete 3-3-3 from the march low.. ~4037 maybe
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ajayypawaar Drunkmonk
@Drunkmonk, thanks for replying.. i have loaded kre 68 puts but it just broke out to new highs and I am following xlf closely as well.. any thoughts on KRE?
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Drunkmonk ajayypawaar
@ajayypawaar, i think im going to try to exit $BAC puts as it/if drops to daily 21 MA + 0.618 extension ~36.19 of this emerging expanded corrective 3 wave structure. the b/x wave on hourly went 0.786 (37.73) to the penny and now looks like its coming down.. consistent with daily and 4hr rsi.
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Drunkmonk Drunkmonk
@Drunkmonk, ill try to short this thing again later but its not done.. X wave from march 2020 lows can go 2x the length of W
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Drunkmonk ajayypawaar
@ajayypawaar, KRE B or X wave on hourly 1.272 to the penny basically here but looking at the 4hr or daily from march lows in log, it looks like it could grind up to the 1.618 extension at $79 near the median line of the pitchfork by mid-April. Hard to say where it all ends. Just a forecast.
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Drunkmonk Drunkmonk
@Drunkmonk, smaller timeframe hourly.. .618 extension comin down $66.99 today or tomorrow possibly
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I like your charts
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Good job !
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