Bull flag breakout to 445
XLF broke out of range today after correcting and then consolidating for 2 months.
XLF is the banking sector. Why is XLF important to the spy? they are the biggest weighted sector next to XLK (Tech). So to put it plainy if there is a break out in Financial's and tech isnt correcting then you can expect higher moves on the spy.
Spy broke out of a bull flag formation today and the next target before it touches resistance is 444.50 - 445. RSI divergence also was broken thru today.
Yes there is no volume, but no one is selling either!! Feds arent giving any reasons for instutions to sell. Im thinking a melt up into sept. but first 445
XLF is the banking sector. Why is XLF important to the spy? they are the biggest weighted sector next to XLK (Tech). So to put it plainy if there is a break out in Financial's and tech isnt correcting then you can expect higher moves on the spy.
Spy broke out of a bull flag formation today and the next target before it touches resistance is 444.50 - 445. RSI divergence also was broken thru today.
Yes there is no volume, but no one is selling either!! Feds arent giving any reasons for instutions to sell. Im thinking a melt up into sept. but first 445
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Feragatname
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