SPDR Select Sector Fund – Financial Stock Code XLF.NYS
Price reached a high on 16 August and has been on a decline since that high. The decline was supported by the cloud, keeping the uptrend intact. The low was also at the Fibonacci 62% of the price advance from $30.37 to $35.97. We think price might have reached the end of its correction. Lagging Span is above price of 26 days ago but is inside the cloud. MACD is about to have a bullish crossover, hinting at a bullish price trend. We think price is likely to move higher to the previous price high at $35.97 in the next 2-3 weeks.
$35.95 Price Target
$32.45 Risk Management Stop
3 weeks Trade Duration