Get started
TK0421

XLF in bearish technical posture

Short
SPDR Select Sector Fund - Financial (AMEX:XLF)  
TK0421  
AMEX:XLF   SPDR Select Sector Fund - Financial
Trend Analysis Chart Patterns Technical Indicators XLF financial Bearish Patterns shortsetup swingtrading Technical Analysis
0
0
trendanalysis chartpattern indicator xlf financial bearish shortsetup swingtrading technicalanalysis
Financial sector, XLF, has been outperforming other sectors in S&P as what seems to be a sector rotation is taking place. Money is coming out of technology to more defensive sectors recently. Nevertheless, when I look at this XLF chart, it is screamingly bearish. Bearish rising wedge with negative divergence on both PPO and RSI. It is pretty extended as well. It's right on the trend line. One big red day may just break it or a gap down on the bad news despite what happened during FOMC meeting today.

Have a good trade everyone,

T.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.