Financial SPDR XLF

Really in conflict over XLF.  Broken 15.75 support seemed to turn into resistance last week.  20 EMA still over 50 EMA for a bullish bias.  I'd like to seem over $16 for longs and under $15.50 for a short gap fill.  Negative divergence on weekly. 

 

Financial Select Sector SPDR (XLF)

 GE blew past expectations this morning, further adding to a number of companies showing profits, and further feeding my bull market sentiment.  XLF financial sector spider might be one to start thinking about.  Looks like it has double bottomed around $15.80.  I'll be watching this one closely here in the coming months.  If this can break the downtrend line above around $16.75 then I'm a buyer.  Hopefully we can then blow past the recent and April 2010 $17.14 highs and move up towards the $26, 2009 level highs.  That would be a nice 50-60% return if I'm right being bullish on the under-preforming financial sector. 



via StockCharts.com
"