The massive financials analog continues to play out beautifully. We may see a little strength (or not) after all the recent weakness, but I think the die is cast. The financials, by way of XLF below, should ideally stay below 27.08 from here on out.
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If we look at the bigger picture, without the noise or drawn objects or price bars, I think you can picture the “you are here†moment somewhat better. XLF is by far my largest options position, as I am loaded up with January 2019 in-the-money puts on them.
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