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SP500 Financials Weekly: Near Break Out ?
November 9 ( From TradingView )
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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
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
SP500 Financial Sector SPDR (XLF)
over SP500 Index (SPY ETF)
XLF - Financial Select Sector SPDR