Monday, June 6, 2011

Financials Trendline

The chart above is a 6-month, daily candlestick chart of a financial sector ETF, ticker: XLF. Financials currently have the second largest weighing in the S&P 500, at 15.15%. There are 10 sectors in the S&P. The trendline in the chart above suggests that XLF is due for a bounce to at least the upper bound of the channel. This should give the general stock market some lift.

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