Always consider hidden risks
SP500 Financials Weekly: Near Relative Break Out ?
August 17 ( From TradingView )
If you would like to receive our free daily markets updates, please Sign-Up
The Financials are quite crucial to follow as it makes 16.8% of the
SPDR® S&P 500® ETF...
We are still within a Huge Weekly Rising Wedge Pattern since
October 2014 on the XLF ETF ( Financials) with 24.53 as support
and 25.69 as resistance. ( See chart below - Red Trendlines )
We are also within an upward channel that started on February 9 week
24.78 support and 25.82 as resistance. ( See first chart below )
SP500 financial sector ( XLF ) is outperforming the Mighty SP500 Index
since April 27 week on that relative performance ratio as shown
by the second chart below.
But the most interesting technical factor is that on the week of August 10 2015, we did test the Resistance Trendline that started back in July 2013 and near a Break Out in Relative Price ( XLF vs the Mighty SP500 Index ). ( See 2nd chart below - Blue Trendline - Ellipse )
SP500 Financials Weekly: Near Relative Break Out ? $SPY, $XLF #Trading #Investing #xlf #SP500
SP500 Financial Sector SPDR (XLF)
over SP500 Index
XLF - Financial Select Sector SPDR