AMEX:XLF   SELECT SECTOR SPDR TRUST AMEX FINANCIAL SELECT INDEX
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Financials lost key support on a large gap down.

They then had a large gap up back above that key support.

This is a textbook failed brekdown. Use the island gap levels to set your risk.
Or a bear trap as they say
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stevenplace TomPower
@TomPower, a loss and hold under 26.13 would confirm the breakdown
+1 Reply
TomPower stevenplace
@stevenplace, looks like it might be indicating up from here. a sort of IHS , defined risk at the gap of key west.
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