SPDR Select Sector Fund - Financial
Short
Updated

XLF Ascending Triangle Level of Resistance $31

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Purely a speculation on my behalf that XLF will reject again at this $31 level like it has done several times thus far. Alternate plays would be TLT to the upside. Bitcoin USD showing risk off action that leads me to believe the selloff isn't over and the reversal from the big upside at the open this morning for the QQQ, etc. also leads me to believe that we're not done with the selling. (I'm wrong more often than I'm right on the timing of things so may not happen immediately). But I've been using bitcoin as my compass here lately and it's been an accurate direction indicator for the broader market. Goodluck.

These are my opinions only, and not trading advice.

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Note
Do foreign overnight traders know something that Americans don't know yet? Bitcoin had a huge upside move while the broader market futures also spiked... But market reversing and Bitcoin continues advance... I tend to side with the foreigners throwing money at Bitcoin. Especially since infection rates have sped up in recent days. snapshot
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Short JPM overnight, staying short as long as TLT is strong.
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