FINANCIAL ICEBERG
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 TECHNICALS
SP500 Financials (XLF) : In a Bad Mood ? 
 October 16 ( From Tradingview, Stockcharts  )
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​​The Situation

​​​​​​The XLF ETF tested and broke on ​August 21 ​on the dowside the
​200 DMA ​( Day Moving ​Average ) then at 24.50.
​​( See 1st chart below - Green Line 200 DMA )​

​​Another quite interesting factor to observe, ​it is that the ​SP500
​Financials (XLF ETF)​ broke on August 21 a Major Support ​Trendline from
​a Rising Wedge then at 24.58 that started back on October 15 2014. ​ ​​
​( 1rst chart below - Red Trendline - Ellipse )​

SP500 Financials ​( XLF ETF ) started a technical rebound since
​October 2 ​when it reached a low point of 21.98. It did break on the upside on October 5 the 20 DMA ( Day Moving Average ) then at 22.85 and is quite near testing the 50 DMA at 23.47.
​​​( See 1st chart below - Yellow Line 20 DMA )​ ​​​( See 1st chart below - Red Line 50 DMA )​

But the most interesting Technical Factor for me, is that we are near a Break Out: XLF ETF is near a Major Resistance Trendline that started back on August 27 2015  (27.53). ​​​​It could become a major reversal for XLF...
( See 1st chart below - Grey Trendline - Ellipse )​

​​​​​​Observe the outperformance trend since October 14 of ​the XLF ​​over ​the Mighty ​SP500​​: a Rebound near the  Support Trendline on a ​Relative Basis that goes back since April 4th 2013
. ​( 2nd chart below - Blue Trendline Ellipse )​.

.
​​But what bring all my attention is that we are on a Relative Basis ( Ratio of SP500 Financial Sector Bullish % Index over ​the Mighty SP500 Bullish % Index ) at level not since since October 10 2011.  We can say that Financials are at Crossroads and especially in a Bad Mood... ​( See Third Chart Below - Ellipses )​





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SP500 Financials (XLF) : In a Bad Mood ?  $SPY, $XLF   #Trading #Investing  #xlf #SP500

RATIO
SP500 Financial Sector (XLF)
over SP500 Index
21 DMA ( Red Line )​


​SP500 Financial Sector (XLF)
​20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​
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RATIO
​SP500 Financial Sector Bullish % Index
over​
​SP500 Index Bullish % Index
​7 DMA ( Blue Line )