XLF Financials Daily Chart H&S

XLF financials daily chart showing the negative divergence smack down in February. Always interesting to remember all the pundits telling Joe Sixpack to buy with both hands at the peak of the negative divergence. Price now channeling lower with lower lows and lower highs. Right now trying to overcome the 20 MA at 16.44 and if price can get thru that, the 50 MA is next at 16.53, so price has formidable resistance above.

Money flow and histogram were agreeable to the positive divergence bounce three days ago but the stochastics and RSI are not. Selling volume is outpacing buying volume. Bearish indication with the 20 MA crossing down thru 50 MA. Two H&S patterns target 15.3 and 14.3. Sideways to sideways down bias moving forward. 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.