XLF financials sector displaying what many other sectors are, topping behavior with overbot or near overbot conditions, rising wedge and negative divergence. This caused the spank down over the last couple weeks. The near term up move over the last couple months, however, exhibits near term strength, so the long term says down, the chart says XLF is rolling over now, but the recent momo should cause it to bounce in here again to come up for some rolling top behavior as it rolls over.
Lower trend line, red line, is testing now, any lower price is a very big deal. 14 level is a long term S/R number that always needs to be in mind with the XLF. 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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