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XLF trade ideas

Momentum has fallen, price will follow- The MACD indicator is a very common and useful indicator to measure momentum - You can clearly see how XLF had a bearish cross for the MACD while price has crawled higher for 4 months - This is a very clear sign of dying momentum and almost always precedes a correction - If you see the linked chart below, XLF has been going through a clear distribution phase for a few months now takeaway: ~11% correction to the ~35 level in the very near future. (couple weeks)
AMEX:XLFShort
by markethunter888
1
Clear distribution last 5 monthsThis is a very simple and clean chart which shows the areas of distribution taken place. The red zones are generated by looking at the volume profile indicator. As you can see, those zones exactly correspond to choppy price action which is very typical of a distribution. If you want to be bullish, I would at least wait till ~35 level which is approximately the 200d SMA. This would be ~10% correction from current levels Don't buy into this week's earnings hype; its a trap.
AMEX:XLFShort
by markethunter888
Update XLF Short @ 39.00Daily heading down. Lower highs. Vol more selling buying. Can see it go 35 200 day. Just hanging on to the 50 day MA. Weekly going sideways wants turn lower it will. Know lets talk about banks these banks are going to Default covid money stopping unemployment stopping Hong Kong deep shit and last we have TNX 1.47 Banks should be breaking out higher TNX goes and banks don't higher inflation guys we are close to the crash. So when we have a rally don't say bulls in charge they aren't and when we stop that bottom will be temporarily.
AMEX:XLFShort
by john12
3