An overview of the financial sector via XLF & several of the leading banks & financial institutions and where they are likely headed in the coming months. Discussing in the following order are: HSBC, XLF, BRK.B, JPM, WFC, BAC & C.
With the addition of the WFC short entry today, there are now three Active Short Trades in the financial sector: FAS/XLF, BRK.b & WFC. This market has been unusually difficult to trade lately, both on the long & short side, due to both the recent very choppy price action as well as the fact that [...]
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 Trade Ideas have all exceeded their previously suggested stop criteria and will be moved from the Active Trades to the Completed Trades category: JASO, MU, STT, C, & FITB. There are several other trade ideas, both long and short, that have not exceeded their suggested stops but may be removed soon to [...]
In reviewing the current active short trades, I noticed that I had incorrectly typed 61.60 as the suggested stop on the previous update to the C short trade. My intention was to list the stop on a move above 51.60, where the red horizontal line on that last daily chart comes in. I'd assume that [...]
C short trade price target is 41.10 with a suggested stop over 51.60 (edit: 51.60 is the correct target, as indicated by the horizontal line on the chart. 61.60 was a typo).
Regardless of the relentless bid under the market lately, the Too Big To Fail banks still look bearish from a technical perspective at this point. Although the current divergences and bearish price patterns can & will be negated should prices go much higher, at this time these key financial stocks have not yet reached that [...]