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dorfmanmaster

Financials in trouble

SPDR Select Sector Fund - Financial (AMEX:XLF)  
dorfmanmaster  
AMEX:XLF   SPDR Select Sector Fund - Financial
Trend Analysis Harmonic Patterns Technical Indicators financials banks JPM BAC TNX sectoranalysis retracement Bearish Engulfing
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trendanalysis harmonicpatterns indicator financials banks jpm bac tnx sectoranalysis retracement bearishengulfing
200sma has been a strong resistance since the March drop. The red circles show 4 times trying to get to it.

Placing fibonacci retracement lines shows confluence with a support level (green rectangle from late June --> early July)

The 20sma crossed below the 50sma on September 27th. (Bearish signal trend model)

Also, if we close at the current price, we are getting a bearish engulfing candle.


I would feel comfortable getting in around $22.7, being fundamentally bullish on the sector.
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