EUSTX50 and Deutsche Bank charts

US market shows risk aversion to financial sectors since the last 5 days. In addition, Deutsche Bank stock is at all time low while the EUROSTOXX 50 index is printing a potential reversal.

 

Eurostoxx

  • The channel is what we are interested in.
  • The channel defines Eurostoxx 50 price action YTD i.e. channel bound, in the red for the year, pointed downwards.
  • Price now printing potential head and shoulders pattern, resisted by top of channel.
EUSTX50.FX daily chart

EUSTX50.FX daily chart

 

Deutsche Bank

Deutsche Bank weekly chart | TradingView.com

Deutsche Bank weekly chart | TradingView.com

  • So low that it’s CEO is being made fun of.

 

Aversion to financials showing up

  • How to make use of this tool by Sector Select SPDR explained in this post.
1-day and 5-day sector ETFs show risk aversion

1-day and 5-day sector ETFs show risk aversion | Sector Select SPDR

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Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005.   Soh's Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX.   Disclaimer notice: "I do not have a financial advisor's license. I am not qualified by any regulator to give financial advice. I do not know you the reader. Your investment means and motive may be different from me. My posts here are based on observations and meant for education. I am not responsible for for any consequence from your actions."
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