SPDR Select Sector Fund - Financial ( AMEX:XLF ) Sector: Miscellaneous (Investment Trusts/Mutual Funds) Market Capitalization: $ -- Current Price: $33.05 Breakout price: $33.85 Buy Zone (Top/Bottom Range): $32.85-$30.65 Price Target: $38.00-$38.80 Estimated Duration to Target: 132-137d Contract of Interest: $XLF 1/20/23 35c Trade price as of publish date:...
Last week brought the first sell side activity the markets have seen in nearly 6 weeks. The market digested comments within the FED minutes as being dovish, and was on track to extend the rally through most of the week. The tone changed on Thursday and Friday and the market was unable to hold the 4300 level. Most of the selling was precipitated by technology and...
I believe that XLF has potential to touch $32.34 if it breaks $34 and may even retrace back to $30.20. Have patience and wait for it to break 20dma. Huge potential for profits from puts. It may happen in next week or two. Not a financial advice and as always please do your own DD.
I was hoping to see 4185 retested, to retest the X leg and see if it held as support. Currently the 18 ema is crossing up through this level. So I dont believe we'll get a 4185 retest . Disclosure: I bought puts against the bearish 3x financial etf $faz..
The Summer rally continued this week on the back of strong earnings by Disney ($DIS) and the market interpreting CPI data as inflation cooling. However, I think the market internals are telling a more important story. This week, the market paced by the financials... on Thursday, the XLF tested the upper edge of its weekly expected move and ultimately broke...
Tracking the Money flow and the AD. Its showing me an $147.50 target on jpm via an ascending triangle. It previous broke out of the cup/handle pattern. Which was led by an bullish ABCD Pattern and Bull Flag. D leg should be the retrace leg, the AD could retrace back to the previous breakout handle.. Will re-evaluate at that time.
This week's action was largely defined by two dynamics: Employment data, and sector rotation. After initially selling off on Friday after the Employment data drop, the market reversed course and rallied much of the day before ultimately finishing slightly down on the session. Despite trade being predominantly sideways in an 80 point range, the market extended...
With things like housing statistics, employment data, and earnings from heavyweights such as GOOG, MSFT, and 3M, next week looks to be filled with potential market moving events. Most notably however is FED Chair Jerome Powell's press conference on Wednesday afternoon. While its no secret that we're headed into a world of higher interest rates, FED speak always...
Keeping eye on these gaps overhead on $XLF. The longer time frames are looking like a bullish reversal. Price is bouncing at the weekly linear regression channel and 200 ema as well.
Quick chart of the downturn and bottoms in the past 25 years. Need to tip the bandaid off if the markets are going to start healing. Note the ~90 spikes in 2008 and 2020.
Oh my, death on a stick once again. Banks are twisting in the wind. Health? Hell No. ______________________________ Use the Dollar Tool now. Forget Stonks they are cooked. Markets go nowhere without Financials. Homies' wreckage just beginning. Bonds are already in ruin. Crypto, ready for the beating. Gold, a shiny useless rock. 22% more to go... adios.
After my last post of a bearish harami, the markets rallied to the upside, retracing back to the neckling support of the Head and Shoulders pattern formed on the SPX. While it seemed to have potential for a multiday rally, that was quickly erased by the dismal retail data on Wednesday and back to bear mode by the markets on inflation and growth concerns. For some...
So i thought i'd take a look at a bit longer term monthly chart on the SPX. As you can see here, for the past 10 years or so, after having broken above the '07 top resistence level at around 1550 SPX has had a 2-3 year stretch of three runs, followed by respite and or corrections. And at each of these times, you can also see that the 50MA served very well as a...
$XLF has broken through and retracing near term support in the past few sessions. I don't see any meaningful support until $31. I see similar damage and downside risk with $RUT and $SPX. Charts to come.
Financial sector has also ended wave 4. Almost every chart show the end of wave 4. Some assets ended wave 3 in september, other in november or january. Market in now going to develop wave 5 UP
Weekly chart of the $XLF. Rounding top off as it battles the price shelf (VPVR on right). Likely to struggle on the way down to truly fall but will ultimately fail at the 72 to 89 EMA cloud (red cloud). Likely retesting $31 towards the end of this year.
Banks look on the verge of long term breakdown out of broadening wedge pattern with massive monthly RSI divergence.
I have wanted to do an overview video of Sector Rotation for Best of Us Investors for a while. In this video I give a high level view of the theory of Sector Rotation and how it can be used to forecast the flows of money into different sectors at different times in the market. I also include my current analysis of where the next sector rotation is likely to occur.