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From June 17:
"If the Double Bottom doesn't hold... I'd sell if I were long (I'm not at the moment)."
In the XLF, the Double Bottom broke on June 20. The H&S Top target of 20.45 MADE on Friday, June 27. The Bearish Rising Wedge target of 20.25 MADE yesterday, so those are out of the way now.
"BAC currently is trying to rally back to broken support at the gap...Meanwhile on the downside, 23.62 still is IN PLAY, a measured move off the Symmetrical Triangle breakdown.
BAC's 23.62 target also got MADE in yesterday's trading. The decline off the May 2 Bearish Rising Wedge high (Red #4) has been particularly brutal. Almost no rally during the 45% "dead drop" from May 2 to yesterday's low, which looked like some capitualtion (see the 1-minute chart) at the close. BAC dropped more that $1.00 right before the bell on big volume, if that bar is accurate. It was 3,093,994shares traded. One or more players might have wanted BAC off their books at the end of the quarter.
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