XLF - banks not looking good 6-12mo

Short

SPDR Select Sector Fund - Financial (AMEX:XLF)

AMEX:XLF SPDR Select Sector Fund - Financial

trendanalysis chartpattern indicator xlf xlf_sell banks bankstocks banking financials options

Potential for a fakeout here but my hypothesis is that we see new local lows on XLF by the end of 2020. You may think the banking sector looks poised for a rebound if you look at the weekly candles, but the monthly candles look like this dump could just be getting started.

Short XLF
Entry: $23-25
Stop: 26.50
Target: $18.50 - $13
Assess in October, adjust 18.50

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