For those following the Financial Sector two big dates are coming up fast for Citigroup ($C): The 26th of September next week, when the Fed decides rate raising (decreasing/no hike) and mid October when $C and other banks report earnings. The Sept 21 - $72 strike was just too tempting at $0.20/contract. Now that Citigroup, $XLF and the market in general is...
Trying to decide which way it will break..... I think to the upside, but it is also looking pretty weak as well. Any thoughts?
Possible head and shoulders forming on XLF. *Not Investment Advice*
Shares of regional bank SunTrust (STI) have recently broken out to new highs and looks to have some room to run further. I'm jumping in via October 19 $77.5 calls (the $75's would be fine, too... a $75/$80 spread could help lower cost), as it takes me thru the next earnings report on Oct. 18. That said, I'll likely exit prior to the report to capture the increase...
Shares of Visa (V) are yet again breaking out to new highs. Barring the market turning south, I don't see much to stand in their way, either. It's been an almost picture perfect stair-step of resistance turning to support. The latest puts minor support at the $141-143 level, with additional support at $136, and with more significant support at the breakout level...
This video is the first of many, and I discuss the behaviors of the sectors and potential markets that are poised to trend in the near future. The "freshest" sectors quietly trying to start a new trend are the Industrial and Consumer Discretionary Sectors. The sectors (along with their industries) I think should be on every trend follower's radar are: XLF -...
The volatility index experienced the most change over a week as macro worries resurfaced. AT40 also failed to confirm stock rally. Above the 40 (August 10, 2018) - Facing Fresh Macro Challenges and Lacking Technical Confirmations, the S&P 500 Stalls Under All-Time Highs drduru.com $SPY $QQQ $IWM $XLF $XRT #VIX #AT40 #T2108 $DXY $USDTRY $AUDJPY #forex $CMG $DPZ...
long over 72.80 here on a break out in price $XLF $FAS $FAZ $TTFS
Trying to gain some exposure here to banks. Sold -1 Sep21 $60/66 strangle for $1.67. Breakevens are at $58.33 & $67.67. I'll look to manage at 50% or deal with any troubles as they come.
I took my XLF off the table from $27.04. Was only looking for a move to the downtrend line. It is hitting some overhead resistance.
**Market Structure** -A falling wedge has broken -Due to the price rise going into the wedge as well as the downward sloping nature of this wedge, that gives is a solidly bullish bias -The overall markets have been bullish and we could see the tide lifting all ships higher **Trading Tips** -A bearish pinbar has formed on the daily so we may see...
The trend line with the moving average is week in the financial sector. The only and key technical support for the sector is to keep the price action over 26.5. Otherwise the free fall is unstoppable.
$C Good set up on the monthly chart. A break out could give a very nice r/r here $SPY
The popular ETF, XLF follows the financial sector and after weeks of selling, it looks to have found support and be gearing up for a big move indicated by the Weekly Squeeze coiling for the past 8 weeks, with the momentum shifting to bullish this week. If you take a look at C (Citigroup), it too has a Weekly Squeeze. If you take a look at it on a Daily it also...
Looking for a cashflow trade in the smaller accounts. Sold -1 Jul20 $27 put for $.60. I will continue to wheel, roll, and cashflow this as long as I can.