Further to my post of March 9th, and as can be seen on the two Daily charts below, the Financials ETF (XLF) outperformed the SPX and the U.S. $ on Tuesday.
With Tuesday's volume spike, the recent bullish Golden Cross of the 50 sma above the 200 sma, and a potential reversal of negative divergences on the RSI, MACD, and Stochastics indicators, these two charts are worth watching over the next days/weeks to come to see whether the Financials sector maintains its leadership over these two instruments.
The Daily chartgrid below of YM, ES, NQ & TF, as well as XLF, the major banks and a couple of the credit card companies shows an increase in volume on Tuesday's trading, as well as Golden Crosses on some of the banks, with this event imminent on the others. Whether we see a pause on those at the top of their Bollinger Bands, or a pullback, remains to be seen.
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Strength in Financials ETF vs SPX and the U.S. Dollar
Published 03/14/2012, 03:26 AM
Updated 07/09/2023, 06:31 AM
Strength in Financials ETF vs SPX and the U.S. Dollar
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