XLF trade ideas
XLF divergence in price movementPrice movement does not agree with the chart. Its going to be difficult to create new highs with no volume or strength.
Price keeps moving up yet most momentum oscillators have just shown a breakdown in price.
Clear out the noise in your head from Syria and the Taper; and focus on what's happening in the market: $TNX. I personally believe there is no retest of market highs. Not with soaring bond prices. Oh and by the way, keep on the look out for the debt ceiling. That's important too since it's coming up faster than you think.
SP Financial XLF Oversold 8/13/13A Hammer candlestick in an overbought condition in the slow-stoch. Its bouncing off of support @ 20.25. A Fed board member that can't vote came in to save the day and told what the market wanted to hear, and perhaps especially what financials wanted to hear as they were all in the red before 11:00 am.
I think we'll move up through resistance @ ~21.00. I am setting up a stop loss @ ~20.25. This move will be confirmed with a close above 20.44 with higher volume.
