12/10/19

 

Financial sector (XLF) at a top.

 

Financials (XLF as proxy) have posted our sought after spring to up-thrust set-up.

 

The Fed announces their usual round of shenanigans (Wednesday at 2:00 p.m. EST), so anything can happen.  However, the top may be in for the current trading range:  22.00 – 30.50.

 

A very tight stop for a short position is just around the session high at 30.36. 

 

From my own firm’s standpoint, we typically do not have stops ‘in-the-market’ but instead monitor price action;  then determine if/when a stop is penetrated, whether or not immediate exit is warranted.

 

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