ETFC (E-Trade Financial Corp) will trigger a short entry on any move below 40.30 which will have triggered a breakdown below this bearish rising wedge pattern which is confirmed with negative divergences. The price targets are T1 at 37.77, T2 at 36.05 & T3 at 33.59. The suggested stop is any move above 41.50 & the suggested beta-adjustment for this trade is 1.0.
ETFC daily Sept 5th
Additional trade ideas in both the Financial Services Industry, including other brokerage companies as well as the insurance industry (re-insurance as well as property & casualty) will likely be added soon.