notice a little divergence? mean reversion trade?
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 […]
Last week I pondered whether the financial sector might be due for a bounce soon. Read here. Thus far the financial sector has not bounced since I wrote last week. As we are heading into a long weekend and the tape is choppy I wanted to give a quick update. I don't want to […]
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 […]
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 […]
The S&P 500 is currently battling it out with the most immediate support ($1275 – 1300) and resistance ($1345) levels on the daily charts. While investor sentiment is skewed to the bull-side, among the more active types (hedgies and such) the view seems to be more two-sided. As such I thought it would […]
The XLF is now near the $15 area – a level that could hold as support, as discussed often during recent weeks.
Look at the XLF (blue line) leading the SPY up and away today so far.