$XLF : Great setup for a short

With news of JP Morgan making a loss last quarter and now Morgan Stanley having a cap on immediate cash bonus, XLF is clearly being setup for a great short. Let’s review the chart. 1. We can see that on the Ichimoku Daily Chart for XLF that it is bumping into the resistance level at… Continue reading $XLF : Great setup for a short

Ichimoku says : Financial is still not bullish

At the heart of the US govt. plan is to save the Financial industry and have them lead the rest of the companies out of the recession. What I like about XLF is that it includes financial services firms with diversified business lines from investment management to commercial and investment banking. In short, it is… Continue reading Ichimoku says : Financial is still not bullish