FINANCIAL ICEBERG
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 TECHNICALS
SP500 Financials (XLF) : A tiny Breakout? 
​ May 25 2016 ​( From Tradingview  )
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​​The Situation

​

​​​​​​​​SP500 ​Financials (XLF ETF)​ previous low was made on February 11 then 
​at 19.53, level last seen in the mini flash crash on August 24 2015.​
​​( See 1st chart below )​ And since July 23 2015, the XLF ETF is within a lower 
​highs and lower lows technical pattern soon to be challenge with the
previous high at 23.77.​

​The XLF ETF finally broke on May 24 a ​Minor Resistance Trendline that 
​started ​back on  April 27 2016.(See first chart below - Thick Grey Trendline - Ellipse)​

Hawkish Fed Officials made that ramp up into the financials stocks.
​As we broke that minor resistance trendline, so a tiny break out for me as the Volume did not ​pick up on the XLF ETF as it should. ​So we have a Breakout Without Conviction. The real challenge for Bulls is to break the Major Resistance Trendline that started back since July 23 2015. (See first chart below - Thick Red Trendline)​

​​But the most interesting Technical Factor for me, is that the Financials are outperforming the Mighty SP500 Index (Ratio of XLF ETF over SPY ETF) since April 7 2016 and also in a tiny breakout mode as it get over the minor resistance trendline on a relative basis. (See second chart below - Thick Grey Trendline - Ellipse)​
​​​​​
​​Bulls still have a lot of work to do as we need to break the 200 DMA ​(Day Moving ​Average) on a relative basis (See second chart below - Green Line)​ and the next Major Resistance Trendline (See second chart below - Thick Red Trendline)​ to open the door for a real major breakout on the SP500 ​Financials (XLF ETF).​


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SP500 Financials (XLF) : A tiny Breakout?    $SPY, $XLF
  #Trading #Investing  #xlf #SP500




Daily RATIO

SP500 Financial Sector (XLF)

over SP500 Index (SPY ETF) 
​20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​








SP500 Financial Sector (XLF) - Daily Candles
​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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