Phantasmix Stock Blog

(LYG: 3.45 +3.92%) Lloyd’s

Three attempts to get above resistance.

And today it’s finally above that level. Hopefully will build support here and go on to fill the gap.

• 13ema is turning up and should cross over 34ema soon.
• Oscillators and volume look good.

Here’s the $BKX chart, the bank index. (The same is happening with (XLF: 15.505 +0.23%) so I won’t post both.) There are some oscillator-price divergences and heavy resistance overhead.

Click to enlarge

$RIFIN broke down. Fibonacci retracement targets are on the chart.

• 50MA acting as support at the moment
• 20MA turning down
• Stochastics and MACD going negative

Going to trade (FAS: 88.53 +0.98%) and (FAZ: 14.88 -0.67%) off this chart.

FAS and FAZ, triple financial ETFs, bull and bear respectively.

Both have been dead in the water for the last 6 weeks.

I think holding FAS + writing calls is (was?) the best strategy here.

Most of the time FAS and FAZ are up/down the same percentage. But every once in awhile they go off track, don’t know if it’s intentional or what.

Today is one of those days. (FAZ: 14.88 -0.67%) is up rought 1% less than (FAS: 88.5295 +0.98%) is down. They may even out at the end of the day, but from what I’ve seen before, this will not be corrected.

I suppose it could be because of the afterhours or premarket action, but not sure.