XLF normally moves quite slowly, but we may may be at a moment in which that accelerates substantially, even improving on what has been a phenomenal year.
Weekly -
Daily -
The EW path drawn is what may be expected most commonly - we're looking for that or better.
Below I show you a longterm AMEX:XLF chart that has had a complete rocket higher without any consolidation in price.
In my opinion XLF cannot break out here without some consolidation back down in price; and then maybe it can retest and breakout; but I don't think it can do it on the initial attempt...
I may be wrong, but you can place your bets accordingly....
Well we've been here before with financials. Are we ready to go ahead and move along from this level? I'LL be completely honest I don't like that wick on last weeks candle, but we still closed green making it the 10th positive week. Regardless of what I believe the chart is the chart.
XLF has been up on the weekly without any major pullback since October, 2023. Now the rally has reached major resistance from previous ATH and with a series of 3 bearish divergence in RSI, the 5-wave rally from the October lows has either topped or is near a top. The rally is also getting less steep falling under the trend line. The next big move is likely to...
Interesting long term trend in AMEX:XLF here, paired with record low positioning for hedge funds, makes for a low risk vs reward and highly appealing long setup.
Additionally, paints a positive picture for the broad market as well.
I present to you the sector ETF, now it's up to you to find the hidden gems in the sector that will likely reap the largest...
Publishing XLF to see how the financial etf does going forward. It's at the decision point of either breaking through to new ATHs or possibly forming a double top in the higher time frames.
There is always a cause to an effect and the matter at hand is the markets are the textbook definition of OVERBOUGHT lower expectations so you can crush it, changing the definition of a recession so you can keep investors and of course the unknowledgeable stakeholders of the bank at ease this wont work the pressure will eventually burst the tank
especially...
Why do I think XLF may be a potential short?
There are many economic catalysts this year:
The Fed is monitoring interest rates and may still make adjustments. Some market consensus tools suggest 1-3 rate cuts this year (of 0.25% each), while some sources suggest that the economy is still resilient, and rates need to still be increased. Regardless of that,...
Rising top flat bottom channel. Two key support targets for downside. Technical analysis would suggest downside price action from here. RSI close to breaking below 50.
All information in the video. I think a turn for xlf is coming and it may be quite strong. Under 37.50 will be a marked change especially if they close the week below it.
Good luck!
Looking at XLF, we have had a good pump. Over the last few days the RSI has been burnt up and we are starting to see some bearish divergence as well as the price flattening. I would like to try to play this down to the green supply zone below, best of luck. It may keep ripping to the upper trend line shown.
No position posting as someone requested. Notice price action peaked with vwmacd.. and is also showing bearish divergence. Again no position, only bank I would buy is NYSE:JPM
J.C. Parets had a great post today identifying an 8 month high for AMEX:XLF financials and a break above its descending wedge.
x.com
This is a deeper dive into the technicals for the sector, beginning with a look at the broader economy and central bank liquidity.
Economic outlook
The economy remains resilient. Broad economic variables continue to expand....
XLF has had a pretty good month so far. Probably the worst sector is showing some signs of life despite issues with the banking system. This week XLF has poked its head above the triangle and the close was pretty good. Volume increased from last week as the down trendline was breached. Now, it is not a confirmed breakout yet as horizontal resistance is right above...
Last week was a bearish engulfing candle on high volume so it will continue this week. After 3 days of drop, prices reversed to hit some stops then continued down with the trend.
Target is Gap fill
