Thanks, I am thinking they will correct some after the rest of them get out the earnings. I dont see anything of why they would continue the run.

Just waiting for the hounds (dip buyers) to stop salivating (buying) when the bell rings (market dips). Charts clearly show waning momentum so watching those key support levels below where the dip buyers “should” be stepping in as when the finally don’t show up, it indicates a shift in the supply/demand dynamics for the market.

Shoot, I meant to cover them in today’s video & left that out. Basically, nothing has changed from a technical perspective on the daily or weekly charts, nor for my outlook on the financials.

I called what I believe to be a major top in the financials earlier this year & I stand by that call. The did go on to make a marginal new high but XLF is trading less than 5% from divergent the high back in June so while technical speaking, that can’t be THE top, for all intents & purposes, it still appears that XLF is in the process of putting in a significant top.

Here’s my weekly chart showing the primary trendline/bearish rising wedge breakdown earlier this year & the recent backtest of the wedge from below. I’ll make a point to cover the sector & some of the big banks asap.

I forgot the market was close Monday but it doesn’t make any difference IMO as the technicals (charts) will be the same at the close today whether it was a normal weekday, typical 2-day weekend, or 3-day weekend. We’ll pick up where (or somewhat around) we left off at 4pm today & from what I’ve seen so far with just over 2 hrs to go, I’m comfortable taking home a decent amount of short exposure. Of course, more risk-adverse traders (an oxymoron, I guess) might to go flat or reduce market exposure (long or short) before the 3-day weekend.