$XLF - We're getting to the end of it. Well... the beginning
After this week, it's fair to say I deserve to get another bearish post in before I look too much like a nut head who's dead-set on seeing a major market correction. & Before I give anyone the benefit of the doubt about this post - over the past 11 days (I think?), 
GS has been on the longest losing streak in history (money.cnn.com/2018/09/13/investing/goldman-sachs-stock-david-solomon/index.html). 12 or so trading days ago (Aug 28th, I think) - I called the top. The top for 'a while', at least (stocktwits.com/DerekD_/message/135382287). The past year (123) trading day highs about to cross below the (252) trading day lows is obviously a bearish cross, but whatever investors see with their own moving averages / TA they might see as a contrarian indicator, so I think there's enough bullishness left to see another head-fake before that all comes to a (deep) end. Another reason I say that, & really the main reason I started looking into financials entirely before becoming completely bearish was $PFG. The black bar pattern to the right of the chart is 
PFG's current trend, compared to its trend in 2008 before the 2009 crash. Like 
AIG, PFG is another investment / insurance company (little less than half in size) that I've used as a leading indicator for the performance of financials. Right now, it's on its last leg to making a few upward moves before really starting a downward spiral. I'm sure you could say the chart is a coincidence, & the fact that both 
XLF & PFG both merely reached their ATH's back from 2008 (Fib used on chart is based on highs / first drop in 2008) before starting the downtrend. But the market doesn't lie, & trust me I've tried to spot any bubble / crisis potential / whatever we're looking at but in an overall picture, Goldman Sachs is looking @ a picture perfect clone of what it saw in 2015. While PFG is reflecting back on it's 2008 trend. & while XLF isn't acting the same as it did in 2008, but I think the ATH's being near exactly alike is something I really can't get off the back of my mind of what the market thinks for the long run.
PFG Link - 
GS Link - 
GS has been on the longest losing streak in history (money.cnn.com/2018/09/13/investing/goldman-sachs-stock-david-solomon/index.html). 12 or so trading days ago (Aug 28th, I think) - I called the top. The top for 'a while', at least (stocktwits.com/DerekD_/message/135382287). The past year (123) trading day highs about to cross below the (252) trading day lows is obviously a bearish cross, but whatever investors see with their own moving averages / TA they might see as a contrarian indicator, so I think there's enough bullishness left to see another head-fake before that all comes to a (deep) end. Another reason I say that, & really the main reason I started looking into financials entirely before becoming completely bearish was $PFG. The black bar pattern to the right of the chart is PFG's current trend, compared to its trend in 2008 before the 2009 crash. Like AIG, PFG is another investment / insurance company (little less than half in size) that I've used as a leading indicator for the performance of financials. Right now, it's on its last leg to making a few upward moves before really starting a downward spiral. I'm sure you could say the chart is a coincidence, & the fact that both XLF & PFG both merely reached their ATH's back from 2008 (Fib used on chart is based on highs / first drop in 2008) before starting the downtrend. But the market doesn't lie, & trust me I've tried to spot any bubble / crisis potential / whatever we're looking at but in an overall picture, Goldman Sachs is looking @ a picture perfect clone of what it saw in 2015. While PFG is reflecting back on it's 2008 trend. & while XLF isn't acting the same as it did in 2008, but I think the ATH's being near exactly alike is something I really can't get off the back of my mind of what the market thinks for the long run. PFG Link - GS Link - Note
What a head fake. The financials sell off should correct AAAALLLLAAT. I'll be content to see a close back to $28.50Note
To still hear people overweight on financials.... Jesus Christ.
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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.