I had an inquiry on XLF (Financial Sector ETF) from member @dpandita. After essentially hitting the measured target for the 2015-2016 Inverse Head & Shoulders pattern, XLF has been forming a Descending Broadening Wedge Pattern. An upside breakdown of the pattern & break above the recent highs would be bullish while a downside break of [...]
The biotechs appear to be headed lower following the breakdown below this 30-minute rising wedge on XBI that was posted yesterday while the other recent sector that has been holding the market up, the financials sector, is moving lower after breaking down & backtesting this bearish rising wedge pattern, confirmed with negative divergences, on the [...]
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The XLF (Financial Sector ETF) unofficial short trade posted here on June 3rd has hit my 2nd & final (near-term) target for a 6% gain. More importantly, the financial stocks are now stilling in a very precarious technical position on a key support level, a level likely to give way in the comings days/weeks. Something [...]
This video takes a comprehensive look at the diversified U.S. stock indices as well as many key sectors of the U.S. market. These index & sector ETFs are discussed in the following order: SPY, QQQ, IWM, XLF, USO, XLE, XOP, XES, XLV, XBI, IBB, PBE, XRT, XLP, XLU & GDX.
XLF looks to be headed to at least the 22.90 level in the coming days/weeks following this bearish rising wedge breakdown & subsequent thrust to put in a divergent high. Unofficial trade idea although I will say that my confidence is pretty high that at least T1 will be hit. Suggested stop over the recent [...]
This video lays out the case for a broad-based correction in the US stock market reviewing the charts of the following sector ETFs in this order: XOP (futher expanded on with a discussion of the follow top components: XOM, CVX, COP, OXY, PSX) followed by GDX, XBI, XLY, XLF, XLP, XLU, XLI, XTL, XLK, XLB, [...]