Pay close attention to XLF today (FOMC) - Although it is currently testing support there's an option for a false break signal here. If XLF won't close in green today after Powell's message, this can be a trigger for another short term wave (and potentially even a strong one) in U.S stock markets.
Downtrend is still valid. we got the correction from top 26.50 level. The price might move to 23.30
We can clearly see that bank of America has always been a leading indicator of a bear market since it starts falling before the S&P 500
short set up. under 20.50 could accelerate things. $XLF $MFC
Shares of PayPal (PYPL) appear to be breaking out of the triple top around $93. Should buyers remain involved, this thing is going higher. It's broken the downward trend of the RSI, has a rising OBV, and the MACD supports further increases. It successfully tested and held rising trend support (bold red line) and looks primed to break out. Long shares and...
Spy upper trendline and fibonacci .618 about to meet at $270. I think with Banks beating ER, Dovish Fed and china news has pushed market to short term bullish. Look for earnings next week with MSFT, Goog and Amazon to decide future direction. I took profits before spy $260 and lost some profits. FOMC meeting Jan 30th, Happy trading!
This chart shows the ratio of XAUUSD vs BKX bank index Gold is typically considered a secure investment in times of economic uncertainty The KBW Bank Index (ticker BKX) tracks the stocks of 24 major banking companies since the early 90s. This index serves as a benchmark of the banking sector. During the Great Financial Crisis of 2007–08 questions regarding...
Financials have sputtered as of late, and this can be interpreted in two ways: Scenario 1: This is a bullish wedge and because of expected future interest rate hikes financials will break out and create new highs in the $32 -$35 range for the AMEX:XLF . Supporting this is the RSI hit lows previously seen on 3/22 and all the way back to the beginning of 2016....
WHy is this in the green after a couple bad reports? I dunno, short it. WFC isn't going to do any better.
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Contrary to our previous post . . A cup and Handle formation has formed on the Citigroup pattern . . look for a pattern breakout and a gap fill up to 61 in the short term. Best of luck traders.
The oversold bounce is real and bulls have changed the daily trends to their favour, but the weekly trends have yet to change. Here's what I'm looking for heading into next week - We have tight ranges on SPY, Tech and Financial sectors and the breaks of these ranges will give us clues for what to expect this coming week
So here we are, right back to the same price level as the last Fed rate announcement. Complete retrace of the tank for XLF, along with AMZN. In fact, retail XRT is actually higher than it was before the announcement, because apparently neither banks nor retail care about interest rates, lol. Look at HYG, corporate bonds are right back up there as well. If the...
Metrics: Max Loss/Buying Power Effect on Setup: 2.18/contract Max Profit on Setup: .82/contract Break Even: 23.18 vs. 22.81 spot Debit Paid to Spread Width Ratio: 72.7% Theta: .26 Delta: 37.46 Notes: Here, I'm just shopping around for particularly weak sectors in which to put on bullish assumption plays that will have plenty of time to work out and/or reduce...
It is Christmas Eve and trading volume is thin... but XLK just crossed below the 200 weeks MA line. If it will close the week this way, it will be another bearish sign for U.S stocks.
Quick TA on XLF, we see a clear double topping pattern, looking for the short term moving average in green / or support from the uptrend channel. We should expect a bounce or bear flag formation. It this fails on support, likely to capitulate downwards toward $16. Stochastic RSI remains bearish at least for now.
XLF is at the bottom of a channel from 2012. The fact that we are there is a positive for the whole market.