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XLF is doing better then XLE, correction could be quite deep, over 0.618 level
Big Money Bank Stocks, Wall Streets most important and pretigious stock group
are once again confirming the renewed sharp selloff, and breakdown in the stock market.
Goldman Sachs, the crown jewel of investment banking,
and the leading large cap stock in the Dow Jones Industrial Average
was down over 7 % today !
You should always pay attention to the ...
Another US sector chart that could be seeing a bullish 5th wave going forward. The scary thing about these counts is that perhaps they are a little too obvious!
Financials lost key support on a large gap down.
They then had a large gap up back above that key support.
This is a textbook failed brekdown. Use the island gap levels to set your risk.
... but the real question is: is it over or not. There is no notable momentum divergence, or any other indication pricewise. Sentiment is negative, but that is clearly not enough to declare the move complete.
Seems like we're done with another real estate and stock market bubble, could be a double top on XLF.
Inside day . Bouncy at support here and noticeable divergence. Entry above today's high
Institutional BIG MONEY took advantage of the overnight bounce in China,
to LIQUIDATE large amounts of stock from US banks and the important financial stocks
in the XLF on 10/22/18, putting price right down to important support, after a loss of 2 % today.
The significance of what happens next this week in the banks, cannot be overstated.
A break of support ...
Nice correction across all sectors, however I am fairly bullish off of strong economic data, and especially considering rising interest rates (great for the financial sector). Personally (not well justified) I believe the current unrest in the market is overblown especially for US equities. With BAC and GS also beating estimates and a large portion of the S&P500 ...
XLF(daily chart). At the Break Line.
Although the earnings season has already kicked off modestly, a bevvy of financials announce next week: C, JPM, and WFC (all on Friday). I generally don't play these underlyings for volatility contraction around earnings primarily because the implied volatility just doesn't ramp up to the degree I'd like to see for a play. I thought I'd mention them here since ...
To add to the fuel from XLI, we also have fuel from XLF, to drive the market higher
XLF already closed out of the momentum phases intermediate and Closed right at the Short term Bearish crossover. Things looking bad for Financials here.
S+P Select Spider ETF XLF,
a basket of the most important financial stocks,
including money center banks have been dropping sharply in the last week.
Somehow big money always seem to know and then exit ahead of material adverse news.
It's really uncanny, and it's been that way since the 1920's,
as they were early getting out then ahead of the great stock ...
long -just based on fishers and rsi
New bullish credit spread on XLF (financials) for OCT 12! Not this Friday. Solid movement this morning in the market and financials is starting to show strength. Decided to take this move out two weeks to allow for the bottom to confirm and some bullish movement to occur.
Max profit 28.50
Break even 28.14
I like the idea XLF is coming into a trend line but whole lot of price value is still below. I know the chart doesn't show the volume profile but 27.41 has to hold. Any lower and we could really see a market correction.
Nothing has changed. $JPM $MS $WFC $BAC $GS +++ are great long term shorts.