Tuesday, March 9, 2010
Markets Set To Rally Off Of Financials..Very Soon!
The Financial Spyder (XLF) is once more up against stiff resistance [$15.30], if it can manage to breakout here it would send an extremely bullish signal to the markets. I've always believed that for the S&P500 to really show strength...it needs the financial sector. So, as the S&P approaches the 1150 resistance level, the XLF @ $15.30 The largest percentage holding in the ETF is JPMorgan (an Itz Pix stock) and is set to breakout of a 'Bull Flag' formation. Plenty of technical pivot points perculating near term...somethin's gonna break soon!