By looking at the broad market if someone had asked me to guess at what level would XLF trade right now. My best guess would be close to $15.30 above the yellow line. Unfortunately, XLF is trading at $14.53 as i'm typing this. You guessed it. Financials are lagging ... and it's not a healthy sign. Here is what I see for XLF near term.
If I were Al Capone, I would short XLF whenever it gets to that third red arrow near $14.50 and let it slide down to $12 ! This pattern is a little bit like the one I posted on DBC earlier in August, Look how well it worked (Click Here) !!
The opinions expressed on this site are made available for educational and entertainment purposes only. Nothing on this website should be interpreted to state or imply that past results are an indication of future performance.