FINANCIAL ICEBERG
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 TECHNICALS
Financial Sector (XLF) : Weekly Tentative Breakout? 
​ July 25 2016 ​( From Tradingview  )
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​​The Situation

​

​​​​​​​​SP500 ​Financials (XLF ETF)​ previous yearly low was made on 
​February 11 then ​at 19.53, level last seen in the mini flash crash on 
​August 24 2015.​ ​​(See first chart below)​  It did a second low on June 27 
​at 21.32 on post-Brexit Fears. ​And since then, the XLF ETF is within 
​a higher ​highs and higher lows technical pattern. (See first chart below)

​The XLF ETF finally got over the 50 WMA (Week Moving Average) two 
​weeks ago. (See First Chart Below - Thin Red Line)​

​​In fact, the Financial Sector are outperforming slightly the Mighty 
​SP500 Index on a weekly basis ​(Ratio of XLF ETF over SPY ETF) only since July 4 2016 week after testing the Support Trendline on a Relative Basis.​ (See second chart below - Thick Grey Trendline - Ellipse)​
​​​​​
​​​Bulls still have a lot of work to do as the Financials are the only sector were we did not have either a new high or a breakout.​ In fact, among the main ETF sectors of the SP500, it is the worst performer this year...

But what is interesting indeed is that at a time were the Financial Sector is only catching up to the Mighty SP500 Index, we have been testing the past few trading sessions a Major Weekly Resistance Trendline that started back since July 20 2015 week (peak in price in that Bull cycle) but on a very weak trading Volume environment. IF broken, it can give a strong outperformance to the SPY ETF. 
​​(See first chart below - Thick Red Trendline - Ellipse).
​​​​​​
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Financial Sector (XLF) : Weekly Tentative Breakout?      $SPY, $XLF
  #Trading #Investing  #xlf #SP500




Weekly RATIO

SP500 Financial Sector (XLF)

over SP500 Index (SPY ETF) 
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SP500 Financial Sector (XLF) - Weekly Candles
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