Technical analysis on XLF & several of the leading financial stocks, including the near-term outlook for the sector.
In reviewing the Short Trade Ideas today, the following trades have either hit one or more price targets and/or exceeded their maximum suggested stop & will be moved from the Active Trades category to the Completed Trades category. Note: Additional market & sector commentary, as well as the outlook for these former trades is included [...]
The following notes & charts highlight my outlook, including price targets for SPY (S&P 500 tracking ETF) along with the tracking ETFs of the four largest sectors with the S&P 500.
After hitting the first price target for a quick 3% profit just 2 trading sessions after the short entry, XLF began trading in a sideways range lasting for month. Prices recently broke out above the range on June 9th to exceed the suggested stop of any move above 24.25 with XLF just recently failing that [...]
Broad Markets As I've already posted extensive analysis on the equity markets as well as various commodities, sectors & precious metals over the past week I figured that I'd keep it simple & share what I'm most focused on with the stock market at this time. At the risk of over-simplifying something that is quite [...]
Analysis of the US stock market, various key sectors including gold & GDX.
Following a gap down today, QQQ reversed right at Monday's reaction low, which was support. A break below that level (~137.45ish) in the coming sessions would likely spark the next wave of impulsive selling while there is still plenty of work to do on the upside to undo Friday's bearish technical developments. 60-minute chart: [...]