Anyone watching the setup on SOFI and Experian after today's roundup?

[Mark Thompson]

Just finished catching up on the latest financial services news and it feels like there is some noise around SoFi and Experian that we need to dissect. I am looking at the charts and struggling to see if this momentum is actually backed by decent order flow or if it’s just another retail trap before we hit a major wall of resistance. Ngl, SoFi has been acting a bit choppy lately and I’m curious if we are going to see a clean breakout above the recent range or if we are just setting up for a retest of those previous lows. The macro backdrop feels a bit shaky for fintechs in general right now, and I’m wondering how the rest of you are playing this. Are you seeing any institutional accumulation around these levels, or is the volume just too thin to trust the current trend? I’m hesitant to FOMO into a position when the key support zones look this fragile on the lower timeframes. Is anyone else spotting a valid technical setup here, or are you guys waiting for a clearer catalyst before pulling the trigger on a swing?

 

[LucasBennet]

sofi looks like it wants to rip but i'm terrified of what the macro data is gonna do to it next week. if cpi comes in hot again, any 'setup' we see now is just gonna get liquidated. experian is a bit more of a slow grind but i'm mostly just waiting for fomc to give us a real direction before i size up.

 

[JulianCraft]

@LucasBennet hit the nail on the head. Anyone buying fintech right here with CPI and FOMC breathing down our necks is just asking to get run over by a steamroller.

Powell isn't cutting shit anytime soon, inflation is sticky, and these high-multiple growth names are way too rich for my blood. I'm sitting on cash and shorting the rallies until the Fed finally breaks something for real.