SP Financial XLF Oversold 8/13/13
A Hammer candlestick in an overbought condition in the slow-stoch. Its bouncing off of support @ 20.25. A Fed board member that can't vote came in to save the day and told what the market wanted to hear, and perhaps especially what financials wanted to hear as they were all in the red before 11:00 am.
I think we'll move up through resistance @ ~21.00. I am setting up a stop loss @ ~20.25. This move will be confirmed with a close above 20.44 with higher volume.
I think we'll move up through resistance @ ~21.00. I am setting up a stop loss @ ~20.25. This move will be confirmed with a close above 20.44 with higher volume.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.