XLF weekly chart received the negative divergence smack down five weeks ago. Price now trending downwards. The big fight now is for the 10 EMA at 16.39. Very shocking that with all the hyped bank news about divvy's the XLF cannot get above this level; this is troubling for the broad markets. In addition, C does a reverse stock split because they cannot get above the 5 threshold for institutions to buy it, what a weak thing to do.
Financials are continuing to roll over. Watch the stochastics and RSI to see if these indicators go under the 50% levels, if so, the financials are definitely in trouble as are the broad markets. 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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