Always consider hidden risks
SP500 Financials Weekly: Near Break Out ?
November 9  ​( From TradingView  )
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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

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

XLF - Financial Select Sector SPDR
​Weekly Chart