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!
Some interesting developments in the bank etfs today - XLF and KRE, worth watching on both a weekly and daily basis. Long term JPM looks like a head and shoulders may be forming.
- 7.5% move on QQQ/NASDAQ in 4 days. AAPL and MSFT now hitting key resistance, will be watching to see if it can break above or not for QQQ to continue.
- likely a slight pullback hourly consolidation for QQQ before attempting another leg up.
- after ECB hiked 0.5% this morning our rate hike of 25Bps increased to 80% chance this morning.
- XLF hourly bullflag...
To be honest i don't know where XLF will go from here. With my current skill level and studies, I think we can go a little more lower. What do you guys think? Comment Below
Warning in all asset classes remains. Better to be out of the market wishing you were in rather than being in the market wishing you were out.
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Breakdown of Each chart
Top left - S&P 500 / General market
Bottom left - QQQ / Nasdaq / Tech sector
Top right- XLF / Financial sector
Bottom right- Dollar index .
In this video I've shown the longterm price action for the financials. The take away here is that a ~2 year bear market which corresponds to wave C has most likely begun.
I see an easy 10%-15% downside risk opening up in XLF. I have taken a short position via 34 strike price puts for may 21 expiry. My target is 31 to close position and will consider going long @ 29 level.
S&P 500 finally has a setup. And FED balance sheet is magically still going down. Let's get in here.
In the news now, we see that Trump's tax returns may be made public, but probably not, at least not before the election. But the real news now is the liquidity. FED isn't printing. Congress hasn't started flooding liquidity from the Treasury General Account.
Banks XLF, KBE,and IWM they are lagging
but we can go 302 easy by manipulation but lets watch
we break 302 I will go long until then I am staying short
All up to XLF , I say we hold some story will come out big question is how far can we rally 295 is easy but can we get thru we are still basing here and in down trend, but lets see next few days.
Stay hedged though i am out all short but have TVIX .
Its all up to banks, like i said before we break that 295 boom we go, but we have not broken yet. Witting see happen Tuesday Monday Holiday, market back normal by wed we will know. I have orders buy spume SPY GS LONG
Watch CAT guys
