With a massive squeeze on 4 timeframes (4hr/6hr/1D and 1W), XLF is poised to make a big move (In the chart, blue candles are all TF squeeze candles).
Squeeze release is usually accompanied by a fakeout, so need to be careful there, but based on other momentum indications, good chance of this breaking up. Breaking up that RSI resistance will be a good...
This is a very simple and clean chart which shows the areas of distribution taken place. The red zones are generated by looking at the volume profile indicator. As you can see, those zones exactly correspond to choppy price action which is very typical of a distribution.
If you want to be bullish, I would at least wait till ~35 level which is approximately the...
The SPDR Financial ETF broke out to record highs in February, stalled in June and has been resting since. Now it may be getting ready for another move.
The first pattern on this chart is the 50-day simple moving average (SMA). After dancing around this line for almost four months, XLF has managed to hold above it since the end of September. That’s especially...
- The MACD indicator is a very common and useful indicator to measure momentum
- You can clearly see how XLF had a bearish cross for the MACD while price has crawled higher for 4 months
- This is a very clear sign of dying momentum and almost always precedes a correction
- If you see the linked chart below, XLF has been going through a clear distribution phase for...
Daily stoch rolled over. More selling buying
Weekly starting roll over again. Most important thing is TNX rally and XLF not breaking out that means bull run over. Bank earnings most likely already baked in as with all earnings imho. TNX keeps rising banks don't wow get ready we can wake up 1 morning 1000 points down keep going .
We have a tremendous signal to go long financial names now, as the yield curve is set to steepen once again and yields are rising on the back of the last FOMC meeting outcome, and the reopening momentum generated by the evolution of the Delta variant, and news of an antiviral pill from Merck that can cause a 50% reduction of fatalities and hospitalizations that...
SNIPER STRATEGY (new version)
It works ALMOST ON ANY CHART.
It produces Weak, Medium and Strong signals based on consisting elements.
NOT ALL TARGETS CAN BE ACHIEVED, let's make that clear.
TARGETS OR ENTRY PRICES ARE STRONG SUPPORT AND RESISTANCE LEVELS.
ENTRY PRICE BLACK COLOR
TARGETS GREEN COLOR
STOP LOSS RED COLOR
DO NOT USE THIS...
XLF had a lon long run until today and the volume profile seems to be abnormal what means this range will either be more present or fastly lost.
To determine the next steps we have to watch the $40 zone, if we break we could step higher if it is holding we could might be fall lower into the more accepted area between $38 and $36
Financial Sector (XLF here but all financials looking primed to me) breaking out on the weekly here.
Went long XLF and KRE (Regional Banking ETF) calls for December
Blue skies gotta buy
XLF struggling at the top of the range . I notice the banks pulled back when XLF got rejected.. Banks have earnings next week so let's see if this makes new 52week highs
Daily heading down. Lower highs. Vol more selling buying. Can see it go 35 200 day. Just hanging on to the 50 day MA.
Weekly going sideways wants turn lower it will.
Know lets talk about banks these banks are going to Default
covid money stopping
unemployment stopping
Hong Kong deep shit
and last we have TNX 1.47 Banks should be breaking out higher TNX goes...
Previously I wrote a brief note explaining caution for the US Banking industry as illustrated by XLF.
This is due to:
- market risk of a broader market pullback - as currently being experienced
- impact from Covid-19 variants like Delta etc.,
- the cumulation of record high bank reserves (cash) which serve to stress Bank Capital and Capital adequacy ratios....
Daily heading up so it can rally some look at selling vol. Still above 50 day MA
Look weekly heading down broke 68% that weekly says any rally up will fail stay short. Trust weekly trend down.
Arca
