Markets – Macro – Technicals

XLF

This page tracks XLF (financials) over time and different time frames. Updates, including different time frames and additional technical subsets will be notified via Twitter and Facebook.

For access to other charts please visit Charts. For latest public market views please visit Market Analysis.

For access to the detailed analysis of The Daily Brief and Kiss Trades please check with Services.
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All content is provided as information only and should not be taken as investment or trading advice. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise. For further details please refer to the disclaimer.


August 27, 2017

Since the $SPX 2485-2490 rejection we have seen a pullback in major indices with sizable corrections in individual stocks creating larger oversold conditions (see charts in my twitter feed).

September is approaching and a political battle is shaping up around debt ceiling & tax cuts. Although stocks such as $GS are down on the year $XLF has been holding up near the highs despite the negative divergence.

Tax cuts then may serve as a potential trigger between playing out an emerging cup & handle pattern for new highs or a major retrace into trend line, open gap and .382% fib:

August 1, 2017

For July month end I posted some monthly charts for $SPX, $DJIA, $RUT, $FAW, $XLF & $DAX. I can’t discuss them in detail here in the public chart section, but the charts actually send an aggregate message and you can find them linked in the Charts section. My latest public analysis can be found here: Welcome to the Danger Zone.

July 13, 2017

$XLF indeed has printed a marginal new high and these highs came on a negative divergence. While this does not preclude financials from making further highs this is a technical red flag. Note confluence of the .382 fib with an open gap. Once markets correct this price zone is a potential technical target.

For further charts please click the image below:

July 2, 2017

Following the initial burst following the November 2016 election financials have struggled as the yield curve has flattened and yields have disappointed.

Most recently this past week financials got a major boost from massive buyback and dividend announcements following Fed approval after passing the latest round of stress tests.

As the long term chart shows any new highs, if they come, would come on a major negative divergence. Indeed the pattern appears somewhat suspect as the advance since the November 2016 correction has not been technical re-tested. If such a retest comes it could leave the chart with a major double top not unlike the 2007 highs or even the 2000 highs.

Financials are key to watch into the Fall:

For further charts please click the image below:

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