Tuesday, March 21, 2017

Financials Plummet....03.21.17

Uncertainty about North Korea's intentions, the imminent threat of nuclear war, and the Republicans failure to get consensus on a new national health care plan combined to create a perfect storm for the financial markets as seen through the lens of XLF. And...there's little reason to think that we're going to see a meaningful rebound soon....the fact is those same uncertainties have plenty of room to fester and the next support level is down another 8%..
The purple line XLF Ponzo scenario is something to consider before jumping back in..
BTW, someone sold off $ 1.3 billion in Apple stock at the open....a likely case of buying the rumor and selling the news (Apple' new red iphone and ipad offering).