BKX Bank Index Still Weak
Worth pointing out here again is the BKX bank index. It remains looking weak and is very close to slip out of this latest bear flag pattern. A close above 48 would cause us to look on the long side.
Wells Fargo (WFC) Recovering But No Cigar
As today's trading session slumps along I'm keeping a close eye on the financials on the back of the GS upgrade from JPMorgan. I stated our case for a potential bounce in financials the past two weeks HERE. As we've dabbled on the long side on WFC recently I wanted to point out the […]
Financials Ready For A Bounce Higher?
It's no secret, the financial sector has been underperforming the broader market for the past three months. As the financials outperformed the market over the past two days however, and also developed bullish candlestick formations I thought it would be worth a closer look at where they stand. Starting with the popular XLF financial sector […]
Financials At Important Intraday Level
The financials as measured by the popular XLF etf is at a an important intraday level right this moment. After gapping down at the open to start the week today, it then led the market higher and currently sits at just about the mid-point of last Friday's trading session. If it folds much below the […]
A Graphical Reference Point For The Weak Financials
The financials as measured by the popular XLF etf has been a distinct underperformer relative to the broader market as well as the more defensive sectors over the past two months. Instead of delving into a flurry of reasons for this let me just point out a point of reference hat that we are looking […]
Goldman Sachs (GS) Close Below $151.50 Is Interesting
Yesterday's low in GS was at $151.50, where it bounced quite hard. Should we get a close below that level today I will consider a bucket 2 short side stab. In the chat-room this morning we are discussing this in great detail. http://steadytrader.wpengine.com/members-area/
In This Week’s Free Weekly Newsletter: Gold, Home Depot, Goldman Sachs
Sign up here, it's FREE: http://steadytrader.wpengine.com/newsletter/ You will also receive the Bonus Trading Plan Preview for Free! It is 21 Pages packed with details of my Trade Setups, Systems, and Methodologies.
I Recorded Today’s Pre-market Video, Available Shortly
Available shortly here: http://steadytrader.wpengine.com/video-2/march/
XLE At Meaningful Support Area
The XLF is now near the $15 area – a level that could hold as support, as discussed often during recent weeks.
Financials Outperforming So Far Today…Setting Up For A Trade
The finnies are outperforming today in a relativ basis. Simply put as of right now the SPY is down 0.33% while the XLF (financials) is up 0.33%. As I watched JPMorgan (JPM) and Bank of America (BAC) trade over the past few days I couldn't help but start to feel more and more constructive on […]