SNIPER STRATEGY (new version)
It works ALMOST ON ANY CHART.
It produces Weak, Medium and Strong signals based on consisting elements.
NOT ALL TARGETS CAN BE ACHIEVED, let's make that clear.
TARGETS OR ENTRY PRICES ARE STRONG SUPPORT AND RESISTANCE LEVELS.
ENTRY PRICE BLACK COLOR
TARGETS GREEN COLOR
STOP LOSS RED COLOR
DO NOT USE THIS...
Watching the financials closely in the coming few weeks, JPM closing on Friday sitting right on the 50day EMA and holding a little bull flag as well. will undoubtedly be a long-term play but definitely worth noting that there was a very clear bear flag on the XLF last week that could potentially continue to play out, so something to keep in mind. However,...
Great opportunity on JPM
Sitting at support from this triangle, if banks continue to be weak this week, there is a chance it will lose support and have a leg to the downside,
Another possibility is a breakout to the upside targeting ATH
Defensive sectors led the sector list during a week where employment data kept investors guessing on the Fed's timeline for bond tapering.
Real Estate (XLRE) led the list throughout the week. The sector is benefiting from low interest rates while it also remains a good hedge against inflation. The Fed continues to put full employment ahead of inflation as the...
New banking regulations in EU and elsewhere combined with QE punch bowl drying up is taking wind out of the sails of the Financials.
XLF appears to be struggling at the mid-line of the regression channel again!
Potential 4th failed attempt to cross midline unfolding.
Similar chart pattern last July into Sept, which resulted in a ~10% sell off.
A mix of growth and cyclical sectors topped the list this week. Defensive s all sectors declined for the week after topping the sector list last week.
Energy (XLE) held the lead among sectors for the entire week, despite a pullback on Thursday. The sector completely recovered from last week's decline and marked a higher high this week.
All of the cyclical and...
Materials (XLB) led the sector list for the week, getting a massive boost on Tuesday and Wednesday after the Infrastructure bill passed the Senate. Industrials (XLI) also got a boost from the bill.
Financials (XLF) contented for the top spot, gaining from rising Treasury yields that positively impact performance for the sector. However, yields dropped on Friday,...
The long term view states that the up trend is still intact, moving to a shorter time frame we can see that the down swing line was broken and the price closed at 4.42$ just above the 4.40$ resistance turned support level. On another note, yesterday's candle was a spinning top indicating balance between the bulls and the bears, which puts doubt on our bullish...
Several sectors rallied into the lead throughout the week, but Financials (XLF) came from behind to end the week as the top sector. On Friday, the sector added 2% on top of gains earlier in the week. The rally came as employment data was better than expected, sending Treasury yields higher and brightening the prospects for big bank performance tied to the yields.
The XLF ETF which tracks the financial sector of the U.S market has been battling to break resistance at $37 and the 50 day moving average. With the push lower in yields, fundamentally this is generally quite negative for banks and financial firms as this substantially decreases their profit margins.
We could potentially retest the bottom of the range at $35.00...
FAZ weekly chart presented and comparing last two price run ups to current condition.
AO appears to want to go positive. See chart for price reaction last two times this occurred on the weekly.
RSI bouncing off 18 month low with harmonics generally supporting a turn soon. Plenty of upward room for the stoch, but it does appear to be faltering a little...
Possible Scenario: LONG
Evidence: Price Action
Call options 10/15/21 strike 38$
Financial sector lagging for few weeks and now it's ready to take the lead again.
This is my idea and could be wrong 100%, not a buy/hold/sell signal.
The sectors ended the week in a very character than they started the week. None of the leading sectors early in the week were leading by the end of the week.
Financials (XLF) started the week in first as investors anticipated earnings reports from big banks that began on Tuesday. By Friday, the sector slipped to the middle of the list, ending the week with a...
Symmetrical triangle forming off of a long-term uptrend line. Blew away earnings but had a solid run-up to ER so will be expecting a retracement back to the 370 level. However, am bullish & will be looking for an entry for a long play and a breakout from this triangle.
Happy saturday traders! Next week, we have a load of bank earnings and we start off with BAC and WFC tuesday morning. Here's my thoughts on BAC: Double bottom pattern on daily TF and put/call ratio of .76 . On Friday, 3800 38.5 7/16 calls were bought during the day. Options are looking for a 3.5% implied move. GL! I will post a WFC analysis later!
Idea for XLF:
- For summer-EOY, will likely need to look at Finance sector as one of the leaders in indices.
- Price losing momentum (falling into lower channels), bounces appear corrective in nature.
- Distribution pattern formed.
- Ending diagonal broke down.
- Price very likely to sell-off to bottom of the megaphone pattern, 9M SMA, 20W SMA,...