Bank shares rose as the 10-year Treasury note yield marched upward to 3.09 percent, its highest level since May. Goldman Sachs, Morgan Stanley and Bank of America all rose more than 2.5 percent. Shares of Citigroup, meanwhile, advanced 3.3 percent. The ETF Industry Exposure & Financial Services (TETF) rose 1.02 percent to 19.72. Now the question is whether the rally has more legs? Below is an update look at a trade in TETF.
The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges. As shown, the underlying is in a short-term bullish trend when the price bars are painted in green. The underlying is in a short-term bearish trend when the price bars are painted in red.
Chart 1.1 – ETF Industry Exposure & Financial Services (daily)
Our “U.S. Market Trading Map” painted TETF bars in green (buy) – see area ‘A’ in the chart. The first dominant feature on the chart is the rising trend line starting in late 2017. The second dominant feature of the chart is the downward trend since early 2018. The June downswing…Click here to read more.
You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.
This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?
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