novvoll12

XLF 24.89-neutral- Approaches 55 day MA within rising wedge

AMEX:XLF   SELECT SECTOR SPDR TRUST AMEX FINANCIAL SELECT INDEX USD DIS
XLF
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xlf
XLF fell from the 25.62 record high (July 23, 2015) to test the 55 day moving average currently at 24.84. Near term there is scope for further easing towards support levels at 24.50 then the 200 day moving average currently at 24.29 near 7-month rising wedge support which may hold the correction. Back above 25.35 would stabilize.

Outlook:
Short term: neutral
Long term: bullish
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