XLF Financials Weekly Chart Overbot Rising Wedge Negative Divergence Price Extended

No one is talking about financials anymore. Each time the 2-week spurts higher occur, traders are boasting about the strength of markets and how financials will lead the way higher during 2014. Who knows? With the never-ending Fed orgy maybe they can pump things higher, but, the chart says no. Same-o stuff. Universal negative divergence. The recent momo is trying to sneak the RSI and MACD line higher but price is clearly running out of gas. Perhaps all the negativity with law suits and legal problems will hurt the banks. Or the TGT security breach disaster where banks now limit the amount of money you can withdraw from your account if you have one of their debit or credit cards affected. Remember, any bank can limit the amount of money you can withdraw from your savings and investment accounts. That is why you have to continue to set cash aside, literally cash, in a fireproof box at home as part of prudent overall money management strategy.

The overbot conditions, rising wedge and negative divergence, as well as price extension above the moving averages, all say down. Projection is sideways to sideways lower for the forseeable future, weeks and months forward. XLF and financials, generally speaking, can be shorted now. Keystone continues to be on the wrong side of the trade holding financial shorts but the path forward should provide relief for the bears. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.