XLF Financials Daily Chart Positive Divergence

XLF financials daily chart very similar to semiconductors chart. Financials and semi's have been beaten down hard. Over the last month, positive divergence is now in place. The semi's have already launched, the financials will launch from the purple circle above. The weekly XLF is positively diverged as well so that says that the critical 14 level should hold, for now.

Projection is some sideways to sideways up bias moving forward, the 20 MA will provide resistance. A move towards the upper rail of the channel is expected, say 15.10-15.20, then reassess. First thing is first, and this near termbottom still has to be confirmed. Of interest is that since the financials and semi's have moved so similarly, and the SOX has now popped, look for the semi's possibly leading the financials in the days ahead. 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 financial advisor before making any investment decision.