Public readers, please don’t construe what I write publicly as some kind of reco to short (I have been short XLF for portfolio balance and a contrary interest rate view). When we do NFTRH updates we talk about setups and parameters. They are key.
For the sake of a public post the information is that XLF has ticked a lower low to set a downtrend after failing to get above the now down-sloped SMA 50. But notice that as with an uptrend, the market moves up and down within said trend. It does not take a rocket scientist to see what would be the optimal short setup on this chart. Eh? The next bounce.
As noted in the previous post, the market is getting fun again because trends are fun. Consolidation is not.
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