$XLF Long - Three Inside UpThree Inside Up pattern observed on the 4-hour chart of XLF. This is a bullish reversal pattern.
XLF trade ideas
Trump taxes, S&P 500 and FED Balance sheetS&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.
XLF Almost time :)
Which way will this go?
imo best to wait for a secondary confirmation as HP always says
Financial Sector Made a Decision TodayThis is the XLF chart at the 30 minute view. The XLF made a decision today between a downtrend resistance and a rising support.
It chose to rally with the banks' earning season coming up. That's what caused the ES to pop up in the afternoon.
Buy Financial ahead of earningsFinancials showed relative strength with sales growth expectations above other sectors according to UBS June CEO survey
$XLF Long - Potential 5th WaveOn the 4-hour chart, the price poked its head up above the desc wedge that has been forming. I believe we have seen waves 1-4, as noted in the chart. I went long financials today for a potential wave 5.
XLF Short Position, !Copper Longs; 12:54:50 (UTC) Mon Jun 29, 20With lumber up 2.3%, copper has made a new higher high and I am not bullish on copper, for the current bullish phase transition to bullish. This relates to the fact that we should see nominal GDP remain muted, thus causing stagflationary economic environment for the time being.
13:05:08 (UTC)
Mon Jun 29, 2020
XLF is ready for a bounce!!!I went long at Fridays Close and bought some FAS. Little red right now but I'm expecting a nice rally next week or even Gap Up Monday! \
I'm seeing nice bullish divergence on the hourly and 4 hour charts. If it burns through its Bearish as hell!!!
XLF - banks not looking good 6-12moPotential for a fakeout here but my hypothesis is that we see new local lows on XLF by the end of 2020. You may think the banking sector looks poised for a rebound if you look at the weekly candles, but the monthly candles look like this dump could just be getting started.
Short XLF
Entry: $23-25
Stop: 26.50
Target: $18.50 - $13
Assess in October, adjust 18.50
HEADS UP.......THINGS ARE ABOUT TO TURN I stopped posting a while back cause markets were no longer markets. Now I see what is developing and its going to be a big problem.
XLFRejected by cloud bottom and then rejected by long term trend line. Breaking down 23 triggers short.
XLF Position Update: 13:10:10 (UTC) Thu Jun 18, 2020XLF Position Update: 13:10:10 (UTC) Thu Jun 18, 2020
XLF Position Update: 13:26:12 (UTC) Wed Jun 17, 2020XLF Position Update: 13:26:12 (UTC) Wed Jun 17, 2020
XLF Analysis Island Bottom Reversal + Bullish Momentum + Rejection of PivotPoint + Volume Spike at Dynamic Support
>BAD DAY FOR FINANCIALS<ElliotWaveFLATabc>3-3-5<CORRECTION<SHORTAs this title suggests. Things could get very bad for American Financial companies.
We are directly at the cusp. 2 scenarios play out from here.
This is the bearish scenario where we have JUST completed A 3-3-5 FLAT abc Elliot wave correction from v dumps.
We should see another leg down equal to the V DUMP , dump from here. This will complete the 3-3-5 Correction on the larger timeframe. The Primary (yellow) ABC.
-----
A = V Dump
B = Rally to here (flat correction itself, just completed)
C = Another drop 1:1 V Dump just beginning.
---------
A one to one Fib Based extension of the drop puts us ... at the bottom of the chart there. The C wave completion Down.
----
Pull out your shorting pants chaps. One robot fist at a time.
