FAZ Position

Sticking with the theme of rotation from Tech underperformance yesterday to Financials today, the short term trade FAZ (3x Bear Financials) long is still open, I'm leaving it open for the time being and seeing if that rotation plays out, it could simply be relative performance, but this was the idea of the trade which was also meant to be a short term trade as next week I don't see any reason as of now why we shouldn't move higher after today's op-ex pin is completed, at least until we get the short squeeze or shakeouts we are looking for.

Here are the initial indications in Financials...

 FAZ positive intraday yesterday at the noon lows, this morning it's a bit short of confirmation, but I'll give it some more time.

Financials/XLF went negative at the same time FAZ went positive on the intraday charts, there's a small relative positive in Financials now which is likely responsible for the consolidation we are seeing right now.

Remember this too was a short term trade to take advantage of rotation.