XLF WEAKNESS / JPM SHORT AFTER iH&S RALLY
Clean trendline touch. Not going to catch a bid here.
Inverse Head & Shoulder typically rallies to 786 retrace- which coincides w/ upper trendline.
Great short opp.
Options could be used to gear up on JPM, or, buy some puts on the XLF if you can't afford it.
Would be ...
RELATIVELY CLEAN DESCENDING CHANNEL
IMPULSIVE LEG OFF 2080 SWING HIGH
HEAD AND SHOULDERS BOTTOM, W/ A FAILED NECKLINE BREAK & HOLD
TESTING UPPER LIMIT OF CHANNEL NOW
COULD LEAD TO A CLEAN BREAK AND RALLY TO 1900 WHERE SELLERS ARE LIKELY STACKED.
LOOKING FOR 1900 TO HOLD, FOR A TEST OF 1865, EXTENSIONS TO 1820.