Friday, June 26, 2009

Financials Technical Chart (June 26th)

Financials formed a bearish formation. In short term 11.30 is the most important level to watch. XLF hit the 200 SMA 3-times in recent weeks and every time it acted as resistance. We are getting close to hit it for the 4th times. It would be interesting to see what is going to play out.