Category Archives: ETFs

Financial ETF Still Churning After Failed Breakout

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I last wrote about the Financial ETF (XLF) on July 11th.

Since then, it failed to hold a brief breakout above the 25.00 major resistance level (convergence of 40% Fib retracement and upper channel), as shown on the following Monthly chart.

Price is sitting at the bottom of the upper quarter of a long-term uptrending channel…a segment that it hasn’t typically remained in for very long, or ventured above, since it began its long ascent from its 2009 lows after the financial crisis. (more…)