XLF Financials Sector Daily Chart Overbot Rising Wedge Negative Divergence Doji Hanging Man

XLF financials daily chart showing the spank down caused by overbot conditions, rising wedge and negative divergence. In addition, at the top there, two doji's and two hanging men further forecasted the quick drop. This 16.49 level is huge today. XLF was failing at the close yesterday but the closing bell saved it.

If the XLF moves up from here then the broad markets will as well. If the XLF fails at this level after the open today, then the broad market selling will continue. On a fundamental basis, 2-10 spread remains elevated at 275 bips keeping bankers happy. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.