Weekly Review

I have a lot that I want to jump into with the markets but before that allow me to introduce myself.

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"My name is Justin, I am a low-risk trader who looks to put ALL of the odds in my favor. I've created this blog to give back to the trading community and help those who have lost it all take back what is rightfully theirs.

I have expressed my concerns about the U.S. economy to my friends and family trying to shelter them from the massive losses they would undergo during the "Housing Bubble." My warnings went unheard as I witnessed their lives change in the blink of an eye.

Good, honest, hardworking people; modest beings trying to support their families are STRUGGLING! They've lost their jobs and homes! Unemployment is at a 26 year high! Corruption is rampant!

This blog, I hope, will help undo the past. I want to help people get back on their feet and not allow 1 year of their life take away the many years they worked diligently at.

I will do my ABSOLUTE BEST to give you back your lives and all I ask for in return is for you to have confidence in my abilities to make a profitable trade which is why I want you to always confirm with my old posts to see if they're accurate. I am still a young college student, but you shouldn't allow my age speak of the wisdom that is instilled within me. Let the charts and profits speak for themselves.

WE WILL MAKE THAT MONEY!"
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This week's close on the XLF is neutral to bearish. I did pick up some FAZ at the 50SMA (60-min) I'll add more as XLF gets closer to the sloping trendline I have pointed out on the chart below; I do think we're headed there. As a bear you want to see $14.20 taken out on a closing basis both on the daily and weekly charts.

JPM is trading in a triangle, a break out to the upside will take us to the 50SMA (60-min) or $41.40. A break down will take us to $40.20

BAC was strong on the day. Look to short it at the daily 50SMA but use a 1.5% stop because it is trading in a BULLISH formation.

MS has support at $29.45 so look for a bounce there

GS has resistance at the daily 20SMA, support is very strong at $158.

WFC is bearish, short it if it gets to $25.90 support is at $24.90
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*use stops where you think is appropriate, I use mental stops so I have no stop recommendations.

*I have a new twitter and will use it to give live trades, follow me : XLFblog

*email me with questions
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I have a small position in FAZ and a good position in the UCO (double long oil etf)