Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
Tuesday, March 22, 2011
XLF Financials 30 Minute Chart Descending Triangle
XLF financials 30 minute chart showing a descending triangle that should finish before the close today. Taking the red bar height of the triangle and projecting under the base line would target 16.10-16.15 which is horizontal support and also fills that huge gap left behind three days ago. The broad markets can not go up without the financials cooperating, and they are not cooperating right now. 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.
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