This Sector Is Still Vulnerable to Pain

The next several days are important. [Jeff Clark's Market Minute]( This Sector Is Still Vulnerable to Pain By Imre Gams, analyst, Market Minute Right now, there’s a lot of blood in the streets. It’s a perfect storm of risks that are battering the markets. Between the ongoing war in Ukraine, rising inflation, and an increasingly hawkish Fed – there’s no doubt investors are feeling the pain. While this may present rare opportunities to pick up deep value at great discounts, I believe there’s still more pain to come… Recommended Link [Obscure SEC Document Reveals Jeff Bezos' NEXT Major Investment (49-Bagger Potential!)]( [image]( Dave Forest made a bombshell discovery. Hidden inside an obscure SEC document... Forest discovered details about a secretive deal involving Jeff Bezos. Bezos is preparing to use the entire power of Amazon... To FORCE his investment in a tiny company to go up. This historic opportunity could potentially hand investors 49X their money... And there's still time to get in - for as little as $3! You do NOT want to miss this chance to invest alongside a bona fide billionaire. [Click here for the full story.]( -- One sector that’ll remain vulnerable to today’s storm is financials. The Financial Select Sector SPDR ETF (XLF) is down over 17% from its January high of $41.42. XLF is now trading at around $34. That’s quite a beatdown. And this [exchange-trade fund (ETF)]( doesn’t seem ready to rebound. In fact, I have my eye on a [support]( level that comes in at around $31 (red line on the chart). Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. Let’s take a look at the XLF price chart… [chart] [(Click here to expand image)]( On this chart, I outlined two important things: - The [bearish]( head and shoulders pattern that completed last week. This classic reversal pattern frequently forms at both major market tops and market bottoms. It has three key defining features – the left shoulder, the head, and the right shoulder. The pattern is complete once prices break and close below the neckline. The neckline (blue line) is a trendline that connects the bottom points of the left and right shoulders. For XLF, the pattern completed on April 26. - The potential support level that comes in at $31.13. $31.13 is an important level for XLF. It represents a major top from which prices broke down on February 2020. Markets have long memories. It’s common for them to re-test past important levels like this one. So, I wouldn’t be surprised if we test this level over the next several days. [Will You Be Left Behind?]( For short-term traders, this could be an opportunity to ride XLF lower… Or you could wait for that level to be tested, to see if an opportunity to go long will materialize around the $31.13 price point. Either way, I’ll keep a close eye on this ETF and provide another update once XLF looks ready to turn higher again. Happy trading, Imre Gams Analyst, Market Minute P.S. Next week, Jeff Clark will reveal the most reliable strategy of his career all thanks to a 44-day window in the markets that’s guaranteed to happen. During this window, Jeff can know ahead of time which stocks are pre-determined to see big moves. So far, he’s had a [95%-win rate using his proprietary calendar]( to target stocks. The best part is, you’re in and out of the trades in just a couple of days. So, you don’t have to worry about exposing your hard-earned cash to volatility. To learn more, you can join Jeff on Wednesday, May 11 at 8 p.m. ET. Just [click right here to sign up](. Reader Mailbag Do you think it’s better to go long or short on XLF? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. In Case You Missed It… [Ignore at Your Own Risk (ONE Crypto Action to Take Before June 1st)]( If you own any crypto… Or plan to buy in 2022… [Watch this video first…]( According to Teeka Tiwari, voted #1 Most Trusted Crypto Expert by 130,000 analysts… We could be less than 90 days away from the most important — and profitable — moment in crypto history… Teeka’s identified seven billionaires and major banks… Who are now positioned to profit BEFORE this event... Business Insider warns this event will trigger ‘explosive growth…’ And it could start in less than 90 days. [See INSANE Crypto Prediction Now. (Happens June 1st, 2022?)]( [image]( Get Instant Access Click to read these free reports and automatically sign up for daily research. 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