Financial Sector ETF (XLF) shows a bullish sequence from December 26, 2018 low favoring further upside. Short term Elliott Wave view suggests the pullback to 26.9 on June 25, 2019 low ended wave 2. The ETF has rallied higher within wave 3 with the internal subdivided as a 5 waves impulse Elliott Wave structure. Up from 26.9, wave (i) ended at 27.21 and wave (ii) pullback ended at 26.93. The instrument then resumed higher in wave (iii) towards 28.05, wave (iv) pullback ended at 27.71, and wave (v) ended at 28.27. The 5 waves move higher ended wave ((i)) of 3 in higher degree.
Wave ((ii)) pullback is in progress to correct cycle from June 25, 2019 low before the rally resumes. Internal of wave ((ii)) is unfolding as a double three Elliott Wave structure where wave (w) ended at 27.81 and wave (x) ended at 28.23. Expect the ETF to extend 1 more leg lower towards 27.5 – 27.78 to end wave (y) of ((ii)) before a 3 waves bounce at least. We don’t like selling XLF and expect buyers to appear in 3, 7, or 11 swing as far as pivot at 26.9 low stays intact in the first degree.
XLF 1 Hour Elliott Wave Chart
XLF 1 hour Elliott Wave Video
Interested in active FX or CRYPTO Elliott Wave labeled charts on a daily basis? Now it's your time; we have a SPECIAL offer; 50% Off on FX and Crypto markets. Check Elliott Wave Forecast website for more details.
FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.