tomj2417

XLF - a more bearish count

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AMEX:XLF   SPDR Select Sector Fund - Financial
I posted a bullish chart for US financials a little while back with it looking that nothing can hold stocks back at the moment. With the recent events of this virus (I live in Asia) I thought I should include this more bearish outlook. While it suggests that this ticker has finished a 4th wave correction and will now climb onward it also suggests that the next correction might be a biggie. As always, any count is just a possibility and while a few weeks ago I was firmly in the bullish count this Corona virus is perhaps presenting a "black swan" that hasn't fully revealed itself yet. The R1 and S1 are the yearly pivots.
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