SELECT SECTOR SPDR FINANCIAL ETF - XLF
Monthly chart shows continued weakness, with no buy signal/pattern on this timeframe.
Weekly chart shows doji candle pattern, indicating indecision between the bulls and the bears. Look for possible test of current resistance at the .382 fib retracement area of $29.50.
Daily chart shows small consolidation range/pattern. Friday's price action showed strength of bulls towards end of the trading day, as rumour of a bailout for AMBAK was leaked on CNBC by Charlie Gasparino. Look for test of current resistance as likely.
Sunday, February 24, 2008
XLF Update for 02.24.2008
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