WearTheFoxHat
Long

SP Financial XLF Oversold 8/13/13

BATS:XLF   FINANCIAL SELECT SECTOR SPDR FUND
89 3 1
A Hammer candlestick in an overbought condition in the slow-stoch. Its bouncing off of support @ 20.25. A Fed board member that can't vote came in to save the day and told what the market wanted to hear, and perhaps especially what financials wanted to hear as they were all in the red before 11:00 am.

I think we'll move up through resistance @ ~21.00. I am setting up a stop loss @ ~20.25. This move will be confirmed with a close above 20. 44             with higher volume .
Technicals changed when the Fed official spoke.
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I like this..falls in line with past trends..- wish I would of seen it earlier..would of held my DFS options through the week...
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I like this - wish I would of seen it earlier..would of held my DFS options through the week...
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