goodguy
Short

Update on financials: XLF

AMEX:XLF   FINANCIAL SELECT SECTOR SPDR FUND
xlf
28 2 2
xlf
2 months ago I posted on XLF             suggesting the top was likely in (see link below). As I review the recent price action I think it is is mostly likely forming a triangle before a final major drop. My intermediate term target is on the daily chart . I don't know if it will stop at the long term uptrend line or go on to close the gap. Take care. Good trading to you.

PS: Notice the nice channels. Also there is a negative reversal in the daily RSI followed by a bearish divergence which I have pointed out before often leads to lower lows.

Related Ideas

jangseohee
9 months ago
more triangular move before a break out
snapshot
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goodguy PRO jangseohee
9 months ago
Good point. I agree.
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