We noted a few days ago the bullish cup and handle formation in the financials (XLF). This is one of our favorite charts and strength/leadership in the financials will bode well for the overall market into year end.
The XLF is set up for measured move higher of 5-6 percent. We’re playing it with the leveraged ETF.
Could be wrong and a break of $21 negates the trade. Always with a stop, sports fans!
(click here if charts are not observable)
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Financials have benefitted from 6+ years of wealth distribution. These parasitic free-riders will always find ways to bleed the American public, through bailouts, fee-based leakage, 0% forever policies, etc. I await the next blow-up from the financial gurus: student loans.
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