AMEX:XLF   SPDR Select Sector Fund - Financial
XLF has had a pretty good month so far. Probably the worst sector is showing some signs of life despite issues with the banking system. This week XLF has poked its head above the triangle and the close was pretty good. Volume increased from last week as the down trendline was breached. Now, it is not a confirmed breakout yet as horizontal resistance is right above it and things are getting a bit overheated in the shorter time frames. It will be interesting to see how the pullback plays out. Markets are due for a nice pullback soon. If $31.5 - $32.5 area holds on the pullback then it might go off to finish the primary wave 5 sometime during the first half of 2024. This may also pull regional bank stocks that will benefit Russell and IWM.


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