based upon recent trading action, a second down leg is coming. Although given the oversold condition, it wouldn’t surprise us to see more consolidations before the massive selloff begins.
Articles tagged with: XLF
it’s commonly believed that the broad market rally can not carry very far and very long without participation from the financial sector. If this is true and the renewed strength in the sector that we have seen recently can be sustained, then U.S. equity market could have a very solid year. What this means is that the powerful combination of the major indices at new 52-week highs and the financial sector’s leadership will help propel stocks above the important psychological 1200 level on the S&P 500 index, then all the way to our medium-term target of 1250.




