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Yogigolf
Aug 2, 2019 5:26 AM

XLF failed breakout Short

SPDR Select Sector Fund - FinancialArca

Description

XLF has failed its breakout and lost the 20 dma on heavy volume. Seems to be reacting to the expectation of more rate cuts which are not favorable for banks. Looks like it could sell off into the 200 dma which has some confluent fib zones and is at a price volume pivot.
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