FINANCIAL ICEBERG
Always consider hidden risks
​
 TECHNICALS
SP500 Financials Weekly: Near Break Out ?
November 9  ​( From TradingView  )
If you would like to receive our free daily markets updates, please Sign-Up









The Situation

​

The Financials are quite crucial to follow as it makes 16.3% of the 
SPDR® S&P 500® ETF...

​​We are still within a Huge Weekly Rising Channel since 
​September 28 2015 ​on the XLF ETF ( Financials) with 24.60 as 
​support and 25.62 as resistance.​ ​( See chart below - Uptrend Channel )

​
We are also within an upward channel that started on February 9 week
​with
​24.78 support and 25.82 as resistance. ( See first chart below )


​​​​​​​​SP500 financial sector ( XLF ) is outperforming the Mighty SP500 Index
​(SPY ETF) since October 12 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 November 2 2015, we did test the Resistance Trendline that started back in July 2015 and the 0.764 Fibonacci level at 24.76 on XLF ETF​. ​
​( See chart below​ - Grey Trendline - Ellipse )



​​


​​​
​​




SP500 Financials Weekly: Near Break Out ?  $SPY, $XLF  #Trading #Investing  #xlf #SP500





RATIO

SP500 Financial Sector SPDR (XLF)
over SP500 Index (SPY ETF)









XLF - Financial Select Sector SPDR 
​Weekly Chart


Financialiceberg.Com


Financialiceberg.Com