With a massive squeeze on 4 timeframes (4hr/6hr/1D and 1W), XLF is poised to make a big move (In the chart, blue candles are all TF squeeze candles).
Squeeze release is usually accompanied by a fakeout, so need to be careful there, but based on other momentum indications, good chance of this breaking up. Breaking up that RSI resistance will be a good...
This week's action was largely defined by two dynamics: Employment data, and sector rotation.
After initially selling off on Friday after the Employment data drop, the market reversed course and rallied much of the day before ultimately finishing slightly down on the session. Despite trade being predominantly sideways in an 80 point range, the market extended...
The Summer rally continued this week on the back of strong earnings by Disney ($DIS) and the market interpreting CPI data as inflation cooling. However, I think the market internals are telling a more important story. This week, the market paced by the financials... on Thursday, the XLF tested the upper edge of its weekly expected move and ultimately broke...
Tracking the Money flow and the AD. Its showing me an $147.50 target on jpm via an ascending triangle. It previous broke out of the cup/handle pattern. Which was led by an bullish ABCD Pattern and Bull Flag. D leg should be the retrace leg, the AD could retrace back to the previous breakout handle.. Will re-evaluate at that time.
With things like housing statistics, employment data, and earnings from heavyweights such as GOOG, MSFT, and 3M, next week looks to be filled with potential market moving events. Most notably however is FED Chair Jerome Powell's press conference on Wednesday afternoon. While its no secret that we're headed into a world of higher interest rates, FED speak always...
Oh my, death on a stick once again.
Banks are twisting in the wind.
Use the Dollar Tool now.
Forget Stonks they are cooked.
Markets go nowhere without Financials.
Homies' wreckage just beginning.
Bonds are already in ruin.
Crypto, ready for the beating.
Gold, a shiny useless rock.
22% more to go... adios.
After my last post of a bearish harami, the markets rallied to the upside, retracing back to the neckling support of the Head and Shoulders pattern formed on the SPX. While it seemed to have potential for a multiday rally, that was quickly erased by the dismal retail data on Wednesday and back to bear mode by the markets on inflation and growth concerns. For some...
So i thought i'd take a look at a bit longer term monthly chart on the SPX.
As you can see here, for the past 10 years or so, after having broken above the '07 top resistence level at around 1550
SPX has had a 2-3 year stretch of three runs, followed by respite and or corrections.
And at each of these times, you can also see that the 50MA served very well as a...
$XLF has broken through and retracing near term support in the past few sessions. I don't see any meaningful support until $31.
I see similar damage and downside risk with $RUT and $SPX. Charts to come.
I have wanted to do an overview video of Sector Rotation for Best of Us Investors for a while. In this video I give a high level view of the theory of Sector Rotation and how it can be used to forecast the flows of money into different sectors at different times in the market. I also include my current analysis of where the next sector rotation is likely to occur.
Bank on Dec 20, 2021, I first warned about EU banks
It went against about 12% before it collapsed almost 30% from the classic double top.
I was warning that the yield curve was in the death dive and this was bad JuJu!
I also warned about US Banking XLF on Dec 6, 2021
Since then all charts have confirmed my analysis like Magic!
Unfortunately, few saw the...
Financials on full display going into earnings . Will those GAPS fill? Keep them on your radar.
#XLF #JPM #C #BAC
Interest Rates continue to rise on 30 year home mortgages and the federal interest rates consumers begin feeling the pain of being both pushed out of the market and every direction they turn.
In most cases higher interest rates help the banks and...