I have a couple of technical study sets called Max Sensitivity and Min Sensitivity. As you might guess, the “max” one tends to be very volatile. I was curious, however, since my belief is that banks are weakening, how the “min” study set looked with a couple of major financial funds. Here is XLF:
Liquidity moves markets!Follow the money. Find the profits!
As you can see from the CCI and %R studies, it’s definitely in “rollover” mode. It’s even weaker with the KBE, which didn’t even have the strength to make it to the topside of the range.
Wall Street Examiner Disclosure:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. I may receive promotional consideration on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.