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XLF trade ideas

>BAD DAY FOR FINANCIALS<ElliotWaveFLATabc>3-3-5<CORRECTION<SHORTAs this title suggests. Things could get very bad for American Financial companies. We are directly at the cusp. 2 scenarios play out from here. This is the bearish scenario where we have JUST completed A 3-3-5 FLAT abc Elliot wave correction from v dumps. We should see another leg down equal to the V DUMP , dump from here. This will complete the 3-3-5 Correction on the larger timeframe. The Primary (yellow) ABC. ----- A = V Dump B = Rally to here (flat correction itself, just completed) C = Another drop 1:1 V Dump just beginning. --------- A one to one Fib Based extension of the drop puts us ... at the bottom of the chart there. The C wave completion Down. ---- Pull out your shorting pants chaps. One robot fist at a time.
AMEX:XLFShort
by thatsblatzphemy
2
XLF - What's next for financials?Closed out bullish options on NVDA, AAPL, and MSFT today as our bet on the rotations from airlines/oil to tech was successful. With the upcoming federal reserve stress test results to be announced - what is next for the financials? Today's XLF candle sits on the 0.382 fib. RSI dipped below w/ increasing accumulation - so could potentially be a BTFD situation to the next level. More likely than not will accumulate here for a bit until 6/25. Regardless, entered GLD calls for 6/19 as the dollar weakens and VIX increased a bit today. In summary - not sure where we are headed and what is the come for the rest of the week. Thoughts welcome.
AMEX:XLF
by Ahn_Options_Trading
2