Modus777

$XLF Bank's Earnings week.

Long
AMEX:XLF   SPDR Select Sector Fund - Financial
Looking at the near term indicators, the Stoch RSI stands out the most for me. On a daily timeframe , the daily RSI is not overbought, but the weekly timeframe shows some overbought action. My only worry this week would be if banks don't do well, which might be pretty difficult, that XLF might find itself double topping at these levels and starting a corrective wave. I'm looking at a breakout over 35.28 and holding to confirm a fifth wave above these levels. I've indentified key support and resistance levels at the pink horizontal lines pointed on the chart.