The XLF is a major decision point. It's at the end of a wedge within another wedge. The solid green line at the bottom is flag support. XLF needs to maintain that flag support or it will take a trip to below $22.
Bank earnings are tomorrow. JP Morgan and Wells Fargo will set the tone for what earnings will be like. RTY and ES' fate now lies with the financial and transportation sectors.
That's why I didn't trade today. Too much uncertainty to what will happen with JP Morgan and Wells Fargo in post-earnings. Something tells me the pullback is not over yet.
Bank earnings are tomorrow. JP Morgan and Wells Fargo will set the tone for what earnings will be like. RTY and ES' fate now lies with the financial and transportation sectors.
That's why I didn't trade today. Too much uncertainty to what will happen with JP Morgan and Wells Fargo in post-earnings. Something tells me the pullback is not over yet.