Looks like Financial sector is pulling back. How much? Anyone can guess. I see a couple gaps back through the $46 range that needs to be filled. There is much volume coming in and the sellers are taking control. We had a break down of the sector for the past week. If it drops below the 50 day EMA it could easily retest the 100 day at $48, so a $2 spread is not a bad trade. Do your due diligence.
Trade closed: target reached
We are beginning to build a base at this level of support with volume coming in and a sentiment of change of trend looming. This trade has been great from $51 down to $47 with a full $4 pullback. It could test the 200 day moving average but, I plan to trim and exit the trade. On to the next. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.