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XLF

The Dimon Bottom Hype Is OverCNBC has loved to refer the recent pullback in the SPX as the "Dimon Bottom" because CEO Jamie Dimon purchased roughly $26 million worth of JPM shares. However, it's not looking for those wanting to hold to believe in the recovery dream. Whether investors want to believe it or not, the U.S. economic cycle is rolling over; and, considering the very high correlation to the SPX, J.P. Morgan shares will unlikely be saved. Since 2014, I been warning of potential headwinds from energy exposure in U.S. banks. It may not cripple the sixth-largest bank in the world, but death by 1,000 cuts won't be any better for shareholders. On Tuesday, JPM reported a 20 percent decline in trading revenues, as well as a $500 million increase in provisions (up 60 percent) due to their energy exposure. Fee revenues were down 25 percent. Technically, the weekly chart is showing more downside is to come. Traders are watching a 20-weekly bearish convergence with the 50- and 72-weekly EMA. Price action is, also, currently below the 200-weekly EMA. The inability to show support above this level and challenge $59.60 could poise further stress on shares. Near-term, we'll see price action test the trend/price demand between $52.30-$53.50. A close below $52.30 would open up $48.3 and trend lower to $43.74. If looking at Fib. retracements, a close underneath Aug 24, 2015 Black Monday low, 1.618 Fib. extension would stand at $37.54. This would be my target for Q2-17. Please feel free to comment and share charts! And follow me @Lemieux_26 Check my posts out at: bullion.directory www.investing.com www.teachingcurrencytrading.com oilpro.com
NYSE:JPM
by CommoditiesTrader
Consolidation inside the PRZ - Butterfly completion near X BAC Bearish Bat pattern is still valid as the price consolidates inside the PRZ, below two broken uptrend lines. As the markets await Yellen and the Fed, Financials are stuck and that clearly being reflected in BAC's chart. If the price will attempt to rally and test the X zone (18.5$) it will complete a small Butterfly pattern that will add chances that we will see bearish reversal in BAC and a move towards 16.5$-17$ R/R shown in the chart (for two scenarios) Tomer, The MarketZone This analysis is part of the Weekly Markets Analysis newsletters To read more interesting technical reviews for the week- goo.gl To subscribe to the newsletters - goo.gl
NYSE:BACShort
by themarketzone
Bat Still Valid - Can it hold? Despite Yesterday's rally in the stock markets, $BAC's Bat pattern wasn't violated as the price remained inside the PRZ, The fact that the price climbed above the Fast SMA line and created a minor uptrend line is a bullish signal but as long as the price remains below the broken major trend line and below X (18.5$) the bearish scenario is still valid. Assuming that we will see $BAC testing 18$ again, the R/R for the bearish setup is about 2. More conservative traders should probably wait for the price to close below the Fast SMA line.. at least. Tomer, The MarketZone This analysis is part of the Weekly Markets Analysis newsletters To read more interesting technical reviews for the week goo.gl To subscribe to the newsletters - goo.gl Follow my blog - goo.gl Subscribe to my Youtube channel - goo.gl
NYSE:BACShort
by themarketzone
BAC looks bullish & could b/o of recent consolidation to 20 lvl.Looks bullish here as it has been in a consolidation range ever since 1/14' and has for the most part been btw 15-18 zone. Financials have come back stronger this year and with interest rates set to be raised soon which could lead to better earnings from banks......financials are set to continue to be strong. For BAC.....it has been stuck below 18 lvls. ever since 09' bottom lows & 18 is a major resistence lvl. for it to close above and hold for a few weeks.......if it breaks 18 w/ volume & holds above it then it will have b/o to the upside of the consolidation range & continue the bullish trend w/ tgt.#1=21.50 & tgt.#2=24......as always watch volume for confirmation.
NYSE:BACLong
by djflowmaster
1
XLF Financial Sector: Weekly linear: XLF Topping Soon??Although the DJIA and the SPY keep making new highs, the XLF hasn't quite made a .618 correction. This in itself would indicate some weakness and indicate that when or if a major bear market develops it may be a big loser. The way I see the price action from the 2009 low to now is a A-B-C correction with the B wave the form of an expanding triangle. Using this concept it forms a good looking (to me) channel. One fairly common relationship is for the C wave to be a fib relationship to A. Commonly C=A, or C=.618x A, or C=1.618x A. Another somewhat common occurrence is for a correction to be a .618 retracement. Both of these may occur soon at the rectangle labeled C? I will be watching this action the next few weeks for signs of a reversal then go short. Hope this is helpful. Have a great upcoming week.
AMEX:XLF
by goodguy
QQQ $108.22: Approaches 7-week triangle resistance QQQ rebounded off 105.55 (April 17, 2015 low) to test the 108.38 range high (April 13, 2015) just beneath 7-week triangle resistance (March 2, 2015 high and March 26, 2015 low). The daily MACD remains bullish, suggesting scope for further upside. If bulls manage to overcome 108.38/108.41 (April 21, 2015 high) and the triangle upper bounds, that would signal a triangle breakout and trigger further gains towards 109.07 (March 20, 2015 high) and then 109.41 (March 2, 2015 record high). However, if the 108.38/108.41 resistance zone caps the rally, a downside reversal below 105.55 would prolong the consolidation and expose the 104.24/104.34 key support area (March 26/April 6, 2015 lows) which may hold dips again. Outlook: Short term: bullish Long term: bullish
NASDAQ:QQQLong
by novvoll12
XLF $24.17: Forms a 6-month symmetrical triangle patternXLF has been consolidating within a 6-month symmetrical triangle pattern (from October 15, 2014 low and December 29, 2014 high). The key support lies at 23.78 (March 26, 2015 low), near the triangle lower bounds and the 200 day moving average currently at 23.64. While the 23.78/23.64 support area holds dips, if bulls manage to reclaim 24.54 decisively (April 16, 2015 high near the triangle upper bounds), that would suggest a triangle breakout and trigger further gains towards 24.78 (March 23, 2015 high) then 25.14 (December 29, 2014 record peak). However, a breakdown below the 23.64 support area would signal topping and weaken towards 22.89 (February 2, 2015 low). Outlook: Short term: neutral Long term: bullish while above the 200 day moving average
AMEX:XLF
by novvoll12
S&P Sector Review - A Look at Relative PerformanceThe charts above show the performance of each sector relative to all nine sectors combined. XLK tech couldn't be included due to having only 8 panes but it was included in determining the sector ratios. Important to keep in mind that these are ratios, all prices could go lower or higher together but what I'm interested in here is purely the relative performance. Also, in order for one to outperform is ensuring that another sector somewhere is underperforming. Top Row: XLU Utilities, XLP Consumer staples, XLF financials and XLV Health are all breaking out on a relative basis. 3 of 4 can be considered defensive sectors. Financials are interesting in that the sector was completely demolished after the 2008 recession and appear to be breaking out of a 5 yr wedge. Bottom Row: XLE Energy issues are widely known. Not much to say other then its possible that they go lower longer term and return to previous levels (.10-.12 of the total). The "energy commodities are an asset class" theme may finally be unwound and if so XLE could suffer from underperformance for some time (oversold bounces excluded). XLB materials have not broken down yet but look quite vulnerable. XLY Consumer discretionary did break down and may have recently been saved by the plunge in oil. Any economic weakness and i suspect this will quickly revert and this sector could significantly underperform. XLI Industrials looks like it could break out but has not yet. The transportation portion of this sector has significantly helped this sector. Summary: XLU - breaking out upwards, 6 yr wedge XLP - breaking out upwards, 6 yr wedge XLF - breaking out upwards, 5 yr wedge XLV - breaking upper trend line important since 2011 XLE - broke out down, 6 yr wedge, approaching possible long term support XLB - approaching bottom trend line important since 2002 XLY - broke ascending wedge lower, recently bounced back towards 2013 highs XLI - sitting at upper trend line that has been important since 2000 XLK - Not shown
AMEX:XLU
by SMP99
Trading The Fattest Cat On The Street, Wells Fargo & Co (NYSE:WFThe fattest cat on Wall St. seems to be flying a bit under the radar these days. Wells Fargo & Co (NYSE:WFC) has been quietly rising to become the biggest banks in the world by market cap during 2014. Surprised? Well check out these stats... Considered one of the most conservative banks in the United States, Wells Fargo & Co (NYSE:WFC) has moved up from fourth in the rankings of world's largest banks by market cap in April of 2013, to number one during 2014. The market cap of Wells Fargo & Co (NYSE:WFC) is now almost three and a half times the market cap value of the all mighty, Goldman Sachs Group Inc (NYSE:GS). Wells Fargo & Co (NYSE:WFC) has had an amazing come back from the Financial Crisis of 2007; it is now number one, with more than fifty billion separating it from the number two, JPMorgan Chase & Co. (NYSE:JPM). Recently, the media has started to pick up on this and the hype surrounding the name increases by the day. However, as traders all we are concerned with is should we be buying or selling the equity now. More importantly, where will Wells Fargo & Co (NYSE:WFC) be trading a few months or even a year from now. Perhaps you missed the move WFC has had, now you are considering buying it. Well, lets look to the chart to tell us where the best place to enter this trade would be... By doing some simple trend line analysis, we can see that Wells Fargo & Co (NYSE:WFC) has come into some major historical resistance as noted in the monthly chart above. Pretty much anyone looking at this chart would agree that this equity is extremely extended and should not be bought at current prices. In fact if Wells Fargo & Co (NYSE:WFC) closes at or below $51.00 by the end of June, it could be considered as a potential short candidate depending on other technical factors in consideration at that time. The price level for those interested in buying and holding Wells Fargo & Co (NYSE:WFC) for a longer term move will be $41.18. If the stock should fall into this level without any consolidation above, it will represent a natural correction level, and buying opportunity. Remember that only a few years ago this equity traded as low as $7.80, you do not want to be the one holding the bag as institutions slowly begin to take their profits.
NYSE:WFC
by KiliamL