XLF: Fins at confluence of Rising Channel Resistance and Andrews Pitchfork Median Line resistance, cyclical ABCD 100% projection, and Bearish Deep Crab PRZ.
So in the final hour... Looks like bearish island reversal pattern in $XLF / Financials.
Note the massive divergence of 20% in the spread between the performance of Utility Stocks (lagging) and Financial Stocks (leading) just since the beginning of the year. This spread will likely close and provide an excellent profit opportunity for long/short traders who specialize in arbitraging the difference in various sectors. Whenever one market keeps its...