Saturday, March 15, 2008

Financial Sector Update for 03.15.2008

SELECT SECTOR SPDR FINANCIAL SECTOR ETF - XLF

Monthly chart shows increased selling pressure, with no buy signal/pattern in sight. Look for continuation lower.

Weekly chart shows lower low made last week. Price is well below the 8ema. No buy signal/pattern evident.

Daily chart shows increased selling pressure on Friday, with the failure of BSC and its need for a bailout. Look for continuation lower.

No comments: