XLF daily chart- XLF is at the higher end of a descending channel. It also failed to stay above its 200 EMA and is now below its 50 EMA. It also can not break through its 38.2 retrace from the February highs.
XLF hourly chart- XLF's hourly chart shows it at the upper end of its descending channel. There's also some bearish divergence that has formed over the past couple days that is keeping us bearish/neutral until it breaks $15.70.
UUP weekly chart- At the bottom of its descending channel.
UUP daily chart- All eyes on which way this wedge breaks.
FXE daily chart- Similar wedge.
*We'll try and add more this weekend.
http://seaofopportunity.blogspot.com/
*Special thanks to Option Radar, BMO Capital, MEB Options, LiveVolPro, CBOE, Option Monster, T.O.P. group, and all of the options desks and traders we work with to provide the option flow!
No position at this time. Position declarations are believed to be accurate at time of writing but may change at any time and without notice.
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