AMEX:XLF   SELECT SECTOR SPDR TRUST AMEX FINANCIAL SELECT INDEX
Long Financials, big banks posted strong earnings across the board two weeks ago. Didn't get much attention with analyst citing the flattening yield curve having negative effects on future earnings . Chart recently broke out on weekly and daily time frames. Got a little trigger happy with tech and healthcare this month, looking to be more defensive. Bought Aug 10 29 calls the other week, also adding equity for the long run. Also looking at JPM and BAC .

TA:
MACD(12,26,9): On the daily chart MACD signal line crossed early in the month of July, and still gaining momentum. The weekly is much more interesting, as I've been waiting a couple weeks to enter this, weekly is showing a bullish signal for the week as of today.

Momentum: Just turned positive on the weekly chart and making higher highs/lows

Trendlines: XLF is breaking out of a downward facing wedge , waited for the confirmation to add equity. Currently trading in a very steep channel on the daily that most likely won't hold, but the weekly MACD plus the trend breakout is very attractive to me.

Added 100 shares at 28.359
First target 29.00 Second 30.00
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