$JEF takes a breath, moves sideways

In our Monday morning pre market Flight Path newsletter we took a look at JEF.
We mentioned that with the financials sector running up against long term resistance we may see a pause in names like Jefferies Financial Group. Indeed, we saw short term counter trend red arrows signaling that momentum having been overbought was now cooling off. 
While we haven’t seen much of a correction against the trend since Monday but we have indeed seen a pause, a sideways consolidation.