An overview of the financial sector etf, XLF, along with the technical outlook for the largest financial stocks. The following securities are discussed in this order: XLF, BRK.B, JPM, WFC, BAC, C, GS, USB, MS & AXP along with key support levels & price targets.
XLF (Financial Sector ETF) along with nearly all of the largest institutions in the financial sector have recently broken below either intermediate and/or long-term trendlines & look poised for additional downside in the coming weeks/months. note: A link to the live, annotated version of this XLF daily chart is available under the Live Charts page. [...]
The following short trades will be moved to the Completed Trades (Short) category as they have either exceed the previous suggested stop (or any reasonable stop, if none suggested) or the technicals no longer warrant remaining short at this time. Several of the Active Short trades still look to offer objective entries or add-ons at [...]
On a quick admin note, I had starting reviewing the Active Short Trades last week in order to highlight some of the more attractive existing short trades and removing all stopped out trades or any other active trades that no longer look very compelling at this time. As I've had a lot of non-trading related [...]
The original short entry on GS (Goldman Sachs Group) was posted on Sept 24th while GS was backtesting the recently broken large bearish rising wedge pattern (orange) as show in the first (previous) chart below. Note how GS has been stair-stepping higher with the white minor uptrend lines with clearly diminishing momentum on each new [...]
This is the first of several video updates covering some of the active trade ideas on the site. The following Active Short Trades, many of which are or will be offering objective new entries or add-ons to an existing position, are discussed in the following order: FB, SOCL, GMCR, GS, GTAT, HLF, HOV. To skip [...]
GS offers an objective short entry here on the recent breakdown of the large (orange) rising wedge pattern & primary uptrend line. Also note how GS has been stair-stepping higher with corrections following the break of the minor (white) uptrend lines, which have been growing increasingly smaller, thereby showing a clear deceleration in momentum in [...]