Rochester, NY 8/25/2009 12:18:41 AM
Financial Select Sector; XLF, Financial Select Sector Market Target high
Financial Select Sector; XLF
Financial Select Sector ETF hits its mark, which is bumping up against key near-term resistance at 14.30-14.42. When that level gets hurdled, it likely will unleash additional strength that propels prices to new highs above 14.60 towards optimal target at 15.00/30.
Conversely, inability of the XLF to hurdle and sustain above 14.30-14.42 followed by a decline that surely cracks 14.00 will argue that the larger corrective process off of the Aug 6th high at 14.60 remains viable and points to 13.20-13.00 prior to completion.
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