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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) 


SP500 Financial Sector (XLF) - Weekly Candles

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