Wednesday, July 23, 2008

XLF Runs Out of Steam

1 comment:

pythagoruz said...

Final daily chart shows increased volume as XLF reversed and closed red below that 50 dma:

http://stockcharts.com/h-sc/ui?s=XLF&p=D&st=2008-01-23&en=2008-07-23&id=p44020778176

Thats a pretty bearish signal, I'd expect heavy selling over the next week or so.