Another (repeating) Set-Up

This time, it’s the financial sector, XLF.

Top ten components for XLF, are listed here.

For today’s session (as of 12:27 p.m., EST), all but one of the ten are trading lower.

Financial, XLF, Daily

When looking at the chart, the set-up is obvious (not advice, not a recommendation).

Similar to yesterday’s update with ProLogis, XLF, made two attempts to push past resistance … that so far have failed.

Today’s action has ‘ease of movement’ to the downside.

The sidebar notes and open (short) position in XLF, as FAZ-25-01 (not advice, not a recommendation).

Separately:

The short in IYR, via DRV, was closed early in this session as PLD, made a (very slight) new daily high, indicating possible hesitation to the downside (not advice, not a recommendation)..

It may still work out but the market that’s moving to the downside now, is XLF (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279