Below I show you a longterm XLF chart that has had a complete rocket higher without any consolidation in price.

In my opinion XLF cannot break out here without some consolidation back down in price; and then maybe it can retest and breakout; but I don't think it can do it on the initial attempt...

I may be wrong, but you can place your bets accordingly.

Goodluck! https://www.tradingview.com/x/d2XTtODf/
Note
I think it's so funny that no one liked/commented on this post but it was plain as day.. snapshot
Parallel ChannelSupport and ResistanceTrend Analysis

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