Lately we've been seeing out performance vs SPX in tech XLK, financials XLF and consumer discretionary XLY. I think we have no reason not to expect strength in XBI biotech to pick up some steam in the weeks to come.
Perhaps not the best but still we can imagine a double bottom in XLF. Yesterday the price closed above the breakout line.
Well, at least not all sectors in out right sell mod coming into Monday. There is some hope the accelerated down trend will take a reprieve. I did for get to show XLF and XLB. They both are still lagging other indices. Bottom line XLU, XLK and XLE looking better. XLY, XLI, and XLV ugly. IWM looks best for a trend reversal Monday. Please leave comments below...
Hi guys. Here's my modest chart on the financials. I'm seeing plenty of strength there still. Have a nice trading day.
Banks earnings, Trump and the Fed drove XLF back to where it was before the major financial crisis of 2008. 10 Years later, will history repeat itself?
Look at XLF and GS, don't you think that they mirror each other in its chart pattern? I have find using XLF a good barometer to buy or sell banking stocks like Citigroup, JPM and GS. Again, XLF has shown temporary weakness with price action closing below 21EMA and a gap between 25.51 and 25.61 awaiting to be filled. 25.51 is slightly above the 50% FIB level which...
U.S. financial stocks have been in pullback mode this week despite the SPX moving higher. Considering that financial stocks had been a big boost to market gains over the last several months, this could be concerning. The XLF is down about 3% - and regional banks KRE down 6% - since the recent top. Let's put this move into context, shall we? As MacroView as...
XLF broke out of 10 month range. Now in an ascending channel.
XLE to XLF has done a 78.6% retrace, should at least outperform over the next few years here.
XLK just completed its 3rd weekly Pinbar pattern inside the PRZ of the bearish Bat I've mentioned in my previous analysis. Although there are no clear signs of weakness yet... and we are in the summer...this still should be considered as a warning signal for the bulls and opportunity for bears.
I believe right now we are in the 3rd of the 5th. There is still a bit to run for this ticker. Sell overshot double top in the coming weeks.
If you expect an uptick in inflation like I do in the US, the Financials could be a good way to play this. With USD down more than 10% this year, commodities having risen by more, and continued labour market tightness, inflation could surprise to the upside over the next few months and $XLF could be the proxy to play this, rather than being short bonds - which...
Banks do better in a high interest rate environment. The US central bank is going to be reducing its balance sheet by selling US bonds. As the yield curve steepens, interest rates rise. If reflation holds (DXY falls, interests rates rise AND it doesn't crash the market), banks could do very well. Watch for upward resistance here. The european banks are up...
XLF touching the 63 quaterly VWMA at first it was rejected but the candle doesnt look nice
The XLF was off to the races this morning as the longer-dated maturities of the yield curve sold off, increasing the spread captured by banks who borrow-short and lend-long. In the middle of the day a key reversal occurred, setting us up for a bearish engulfing candle. This chart pattern is a rally above the previous day's high and a close below the previous...