Tuesday, November 8, 2011
XLF Comparative Study – Update
Here’s an update of the XLF comparative study from after the close today. While the market followed the script of strength over the past two sessions, it was actually weaker than I anticipated. Perhaps tomorrow it will fulfill the proportion of the analog, but there were more than a few cracks in the markets short term technical picture that it looks increasingly unlikely.
For that reason, I included an additional study that is a little further down the road in the financial crisis – where the rebound failed to exceed the previous highs.
at 11:41 PM