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 […]
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 […]
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 […]
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/
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.
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 […]