SPDR SELECT SECTOR FUND - FINANCIAL AMEX:​XLF

correstion comong

... for a .58/contract credit. Basically, this is a calendarized iron condor or iron fly, where you roll just the short strangle/short straddle body of the setup for cost basis reduction, while keeping the long strangle aspect in place for purposes of defining the risk ... . Take profit is somewhat subjective, but I start to look to bail on the trade at >20% of ...

The market has been consolidating after a strong up move. An inside bar pattern has formed during this pause and presents a good opportunity to get in on the next leg up. A good strategy would be to enter on an upside break of the inside bar with a stop loss just below the bottom of the inside bar pattern. It creates a very attractive risk/reward setup.

XLF

XLF has good support at 26.80, which coincides with the 200-day EMA. It will probably trade higher to 28 and then returns to 29.

XLF at bottom of channel looking to retest highst at 30. Long at 27.05

In my opinion, looks like the weakness of earnings but temporary bullishness of SM will provide short term pop for financials to 28.2X then drop to lower support for next consolation leg down.

For every positive @allstarcharts is putting out, I can put out a negative. he does have breadth on his side though.

Financials primed for a bounce ... guessing gap fill and trend line test above Channel or chop suey

You can see here that financials have put in a series of lower low's. Often in such cases, we see retracement back into the original range. If you are looking for a short opportunity entering at the 50% level with a downside target at the 1.6 extension level would offer a reasonable risk/reward ratio. With the midterms coming up, I would expect a low prior to ...

Financials look vulnerable. If market weakness continues, this could be a quick put play.

Video tells all

XLF lots more T-Bills auctioned this week. This is the biggest week even for bills. Whole lot of downside risk that financials close week under Feb. lows.

on watch for tomorrow, not sure if this bounce was legit or not, will see how the rest of the week plays out before the 3 day weekend. Not convinced traders want to be overly buying this dip heading into a long weekend with uncertainty around tariffs etc still looming. XLF re-testing the previous uptrend line Lots of bank names hovering right around their ...

Bounce expected as it has done before. (MACD)

Short-term bearish, long-term bullish.

I do see market pop soon or at least base out. Financials are looking horrible. If you are short here are some areas to take profits.

XLF is approaching massive resistance at $30, the peak prior to the Great Recession. It appears to be forming a double top, which if cleared will open the door for a huge rally. Conversely, a failure would open the door to a large correction. Very short term (next week or so), I think we see buyers lift prices (I'm long 3/29 $29's), but I believe we ultimately ...