Always consider hidden risks
Volume Advance-Decline of Financials: At the Resistance Zone ?
July 15 ​( From Stockcharts, TradingView )
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The Situation

We observed that the Volume Advance-Decline of the Financials ( XLF ETF )
​tend ​to confirm the price action of the SP500 as you may see in the charts below...

​But what we can observe on the top chart below is that we reached the resistance
​zone ( according to the the Volume Advance-Decline of the Financials
​(7 DMA - Day Moving Average )).( See first chart below - middle panel - blue line )

On the chart below, we can observe that when the indicator of the
​​Financials reached near the zone of the +-20 mark , history suggest
​that we can expect a corrective trend from the current levels. ​
​We reached rge higher level near the Resisance Trendline on
​that Indicator. ( See chart below - Middle Panel - Black Lines )

But since January 27, we are making on that indicator lower lows
​and lower highs in a huge Grinding pattern.

​We are within a big Rising Wedge Pattern that started back at the end of 2014. It needs to break one side to confirm a break down or a break out.
​​( See first chart below - Ellipse )

On a short term basis, we reached a Resistance Trendline that started back on May 6 now at 25.06.​​
Only having a daily close above will give us another bull impulse. ( See Second Chart Below - Red Trendline )​

Louis Pateur
"Chance favors the prepared mind."

Volume Advance-Decline of Financials: At the Resistance Zone ?  $SPY, $SPX, $ES_F, $XLF #Trading #Investing  #xlf #SP500

XLF Volume Advance/Decline % ( Middle Panel - Right Scale - Dots )
7 DMA ( Blue Line )
SP500 Index ( SPX Bottom Panel )​​
XLF ( Top Panel )​
SP500 Financial Sector (XLF)
50 DMA ( Day Moving Average - Red Line )​