The outlook for the financial sector, including the etf, XLF, using both technical & fundamental analysis. The video starts with an overview of the technical & fundamental outlook for the financial sector followed by the outlook for the following financial institutions: JPM, C, WFC, BAC, V & MA.
As I'm now able to focus my efforts on the long overdue process of cleaning up the Trade Ideas category, I am doing so in phases starting with Short Trade Ideas (Setups and Active Trades). I did a once-over of all the charts and placed one of three symbols next to each trade; "OK" means those trades still look objective and will be left on as Active Trades for now, to be updated asap. A "?" means that I need to study the charts in more detail before deciding to leave the trade or setup listed on the site as it [...]
So far today, MA has successfully back-filled the small gap from Jan 9th, perfectly normal price behavior. However, if today's low (the bottom of that gap) gives way soon, prices will likely drop towards the top of the large Jan 2nd gap, around the 500 level. If this were to happen within the next couple of weeks or so and prices were to also back-fill that gap as well, MA would be back to the bottom of that key multi-year ascending channel where a break below would trigger a long-term sell/short signal. Updated daily chart plus daily zoom in, followed by [...]
I received a few emails today on existing trades and setups and since I've been working towards updating many of the active trades, I wanted to share my thoughts. The first inquiry was for an update on MA & V. From what I hear, CNBS is drooling all over these two credit card stocks right now an here are my thoughts on the first of the two (V to follow under separate email for categorization purposes). MA was a very successful trade on the site several times, long and short, in 2012. On the last update back on Oct 25th, although [...]
MA has been a long-standing active short trade on the site for months now. it was first shorted at the top of the channel back on march 22nd at 418 and hit T1 (bottom of the channel) for a small gain on july 24th. MA then gave a false breakdown of the channel in early sept but like just about everything else, was ramped higher on the bernanke/draghi empty promise of QEternity. i believe that a more lasting & sizable move lower in MA is imminent at this point and although i've personally given this trade a lot of rope (room [...]
MA has been listed as both an active short trade as well as a short setup for a new entry. the active trade was entered at the top of this ascending channel and has already hit the first target which was the bottom of the channel. the setup for a new short entry or an add-on for anyone still short was a break below the ascending channel, which has recently triggered. MA is still offering an objective entry here with the appropriate stops in place. a relatively tight stop just above the 431 area (horizontal resistance) would offer a very attractive [...]
MA has been an active short from the top of this rising channel with the first target hit recently when MA tagged the bottom of the channel. i mentioned that a breakdown of this channel was likely and that would be the next objective add-on or new short entry. MA now appears to be trading slightly below that channel, thereby triggering a new short entry or add-on. T2 remains preferred target for now although that might be extended if we get the kind of sell-off that i think is right around the corner (fast and furious) for now, a stop over [...]