Financials Reiteration

I already posted Financials as a trade that should come to you, it looks like it is set up which may tell us a little more about the broad market, especially because Transports looked similar.

 XLF 1 min intraday, this afternoon it has put in a positive divegrence.

This is the 3 min chart, it's not very strong, but in this case, that may be a good thing.

And the 5 min chart with a positive at today's parabolic opening lows and toward the end of the day, otherwise the 5 min is still sloppy, again that may be a good thing reflecting weakness that we'd want to short in to.

At the 10 min chart, just like almost any other asset or any of the averages, things fall apart, thus XLF short on a bounce looks pretty interesting still in the area.

The FAZ-3x short Financials chart on the other hand looks great, the more common double base we have seen over the last 7 years or so with the second bottom lower than the first, positive divergences at both and a leading positive currently.

All of the charts above this one are essentially tactical entries, this is the strategic view.

Again, I'd set some price alerts.

While nothing has been definitively settled on these 5 min charts today, right now it looks like we'll see some upside on some very weak underlying charts which makes for a very interesting and in my view, favorable short entry (long FAZ or short XLF).