XLF is now trailing behind the KRE . This topping formation has now triggered on the daily chart and is showing us there is a tremendous amount of risk in the banking sector. Will we see a small bank blow up which causes contagion?
Discussing all the major weekly trends for each sector.
Discussing all the leading sectors 0:15 XLK 1:40 XLV 3:45 XLY 4:45 XLC 5:37 XLP 6:26 XLF 7:33 XLI 9:00 XLU 10:54 XLRE 12:14 XLB 13:15 XLE
NASDAQ:IBKR may be one of the leaders of this sector. Back in February of 2022, the relative strength ration with AMEX:XLF showed a bullish divergence against the stock's price; soon after, the stock bottomed and since has rallied +50%. The $80 level is key and the price has formed a shark pattern near it. As the stock is in an uptrend, I'll wait for the...
Looking into all the major sectors of the S&P 500 to see if this breakout can be trusted. we review all sectors on a weekly basis to provide insights of the overall market. Most sectors have not broken out & trading at major resistance.
XLF has broken downtrend, successfully produced a Gartley retest, and now closes just above the cloud, and just above prior swing high. Financials must be looking ahead to some respite in FED rate hikes, since they are sensitive to short term interest rates. Along with SOX, XLI, showing similar trend breakouts, this is encouraging for bulls.
I have no problem with bold predictions, reversals I do well. SOX has historically led out of the gates on reversals. SOX has broken the downtrend, and successfully tested a Gartley retrace. While we still have an Ichy cloud resistance overhhead, I believe the market bottom is in. Will there be another selloff? Likely. However, I believe a new market bottom lower...
I own some in my portfolio. Nice long bull trend. Bull flag is a continuation pattern in a long uptrend. The way I play a bull flag like this is to buy when the stock breaks out of the upper flag channel (above 92.53). Stop at 90.70 (C). A breakout would take PFG on to test prior high at (B) 96.17, at which point it would either breakout to new highs or repel...
X = 2022 High A = 2022 Low B = .618 XA C = .886 XA D = .786 XA Price Targets B: $361.16 (Conservative) C: $287.36 (Moderate) Aggressive: $250 - $275
There's a trend that is expiring in financials here, which makes me uneasy for the broad market. Within the next 8 trading days we can expect either a sideways move near the target here, or a drop back to where the last trend signal started @ $34.1. I'd keep an eye out for reasons to short the market soon, financials might be warning us of impending risk if price...
The last time Financials flipped Technologies was in 2000 which lead to six years straight of overperformance by the banking industry. This is an important relationship to keep an eye on. These types of trends tend to stick for long periods of time and can lead to generational trades.
Bank of America Corporation ( NYSE:BAC ) Sector: Finance (Major Banks) Market Capitalization: 290.715B Current Price: $36.18 Breakout price trigger: $36.60 Buy Zone (Top/Bottom Range): $35.60-$32.65 Price Target: $45.80-$46.50 (2nd) Estimated Duration to Target: 180-191d Contract of Interest: $BAC 4/21/23 40c Trade price as of publish date: $1.82/cnt
JP Morgan Chase & Co.( NYSE:JPM ) Sector: Finance (Major Banks) Current Price: $122.23 Breakout price trigger: $123.50 Buy Zone (Top/Bottom Range): $120.00-$112.00 Price Target: $140.40-$142.20 Estimated Duration to Target: 63-68d Contract of Interest: $JPM 12/16/21 130c Trade price as of publish date: $3.25/contract
Goldman Sachs Group, Inc. ( NYSE:GS ) Sector: Finance (Investment Banks/Brokers) Market Capitalization: $112.036B Current Price: $326.21 Breakout Price: $335.15 Buy Zone (Top/Bottom Range): $325.35-$306.65 Price Target: $361.40-$363.50 Estimated Duration to Target: 60-63d Contract of Interest: $GS 11/18/22 330c Trade price as of publish date: $15.45/contract
Warning in all asset classes remains. Better to be out of the market wishing you were in rather than being in the market wishing you were out. Share the Love so we can help others.
AMEX:XLF Possible Scenario: SHORT Evidence: Price Action It's bearish as hell, and it's correlated to XLK by 0.85; it gave us the early signal of the crash today; I expect a 10% -20% correction in Tech Large Caps soon. TP1: 35$ *It's my idea and could be wrong 100%.
XLF $XLF Initial Long. This is a pure momentum signal just as are every other signal I post. ZERO other factors are considered in producing this signal. Entry reasons: XLF is showing momentum and confluence of mean reversion crossing up the 70 day price mean. Exits and SL: TP and SL on chart. Move SL on TP. After TP2, trail with 0.5xATR step and 1.5xATR offset.
XLF bounced in a big way in Wednesday Trading stopping a multi-week selloff. On the 4HR I see a Head and Shoulder with a profit target up to 2021 highs. On the 30 minute I see a double bottom form. Which leads to a Cup and Handle Put them all together and you have a solid trading plan to ride XLF up to top of channel. As these patterns...