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XLF trade ideas

Two Charts That Indicate S&P 500 Sell-Off, Part 2: XLFThis is part 2 of this series. The Financials. In Part One I pointed out a bearish 5 wave impulse pattern (with a-b-c corrective waves) nearly completed. I also postulated the following formula: Inter-market analysis suggests the following formula (from Don's book of logical assumptions)....... E = MC x 2. Translation: Energy = Momentum Change x 2 ( XLE momentum change and XLF momentum change). To me, both are heading lower. The XLE looks to be heading lower. The XLF looks to be heading lower. Are these two major components going to lead the S&P-500 lower? The evidence suggests yes. The bearish harmonic pattern above in XLF, and the bearish harmonic pattern in XLE (Part 1) both suggest trouble ahead for the S&P-500. Today I would like to close with a quote from Jack Yelton: “There is a very easy way to return from a casino with a small fortune: go there with a large one.” I hope this has been helpful, entertaining, and informative. May all of your trades go well. Don.
AMEX:XLFShort
by 649bruno
Markets are not anticipating a Fed Rate Hike--Currently, the XLF is trading at a significant support level at 22.22s. The last time it broke this level was at the beginning of the year with significant recession risks. -- If the XLF trades above this level, this indicates a short-term bullish outlook to the mid 20s. Could test the prior highs, especially if the FED comes out HAWKISH. -- Risk defined at : STOP: below 21.30s Target Entry : 22.50 Target Exit : 24.00s -- Markets are not pricing in a FED rate hike for March, and a surprise hike could send this to higher levels and even break former resistance levels DISCLAIMER: Trading foreign exchange and equities on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
AMEX:XLFLong
by Chronos
TWINS: XLF & IWM, BOTH MOVE IN TANDEMI believe IWM is setting up for the completion of a long top which is rolling over. I believe IWM will fall to about $95 before moving on to higher highs. For those of you who chart XLF, please be aware that XLF and IWM move in tandem. If you are charting one then you are charting both. Both are lagging, both have had technical bounces, and both need to participate in the "stock" market if we are to have a meaningful move higher. The above chart is of XLF, but the thick bright green line is IWM. As you can see, these two issues move together. I hope this has been helpful and informative. May all of your trades go well. Don.
AMEX:XLFShort
by 649bruno