Replies to post #875 on SmurfVA's Random Picks

[Ned Serious]

XLF : Financial ETF - Strong move into the next channel today. It started out good, then moved back down to yesterday's close (21.05) - (old resistance / new support) and said that NORTH is the way to go. Decent enough volume.

Also - jobs report. Sentiment was the key again to me, as the report was worse than what peeps wanted. So it dropped down in futures, then came right back up before market open, and then basically... IMO the market said "So what? - We want to go higher - so who cares what it says." Makes a Happy Friday

[Ned Serious]

XLF Hits Upper Channel - Time for Market Pause?

Just an FYI: the markets have been moving up strong last four plus days, perhaps time to keep that in mind when entering any new trades in the next few days?

Check the XLF chart from a few days ago, sitting now at $21.53, which IMO looks to be resistance from the upper channel and also from previous support / resistance levels.



Just something to think about, Trade Rationally and Carry On.