XLF WEAKNESS / JPM SHORT AFTER iH&S RALLY Clean trendline touch. Not going to catch a bid here. Inverse Head & Shoulder typically rallies to 786 retrace- which coincides w/ upper trendline. Great short opp. Options could be used to gear up on JPM, or, buy some puts on the XLF if you can't afford it. Would be looking to buy premium here, not be a writer..IV is...
XLF WEAKNESS / BRK.B H&S TOP Straight-forward H&S top.
BRK.B has followed the market higher since Feb 11th, I am setting alerts early. We will see if the market correction since the beginning of 2016 was only a dip to be bought, or an early warning sign of a bearish trend unfolding in the months to come. Similar health checks can be done with SPY:IWM, COPX, FDX, TLT, HYG, FXY, UVXY.......
$AAPL $BRK.B $JNJ $MSFT $PFE $SPY $XOM $XLF $QQQ $TQQQ $SQQQ $STUDY
Today looks like it could be the continuation of a small pennant pattern at support. EMA's are headed lower after a pretty decent cross in March - bearish sign SMA's crossed bearish about a week ago - bearish sign ADX is getting slightly high around 40, but has room to move if a big move occurs Stochastics are looking slightly oversold - look out for a triangle...
200 SMA is nice support, decent bullish volume coming in. $142 good support as well.