Financials have been underperforming recently and based on my top-2 scenarios for tomorrow’s jobs report, they are setup to fail. First I’ll take you through the Elliott Wave and Fibonacci analysis of the S&P to show you resistance is just above, and then we’ll take a look at how financials have lagged the market and the options trade we took in this weak financial stock.
do you think, based on your analysis that sxp will make make new highs or a retracement to its historic high.
if so how long do you estimate this will take?
I know you dont have acrystral ball but im interested in our thoughts.