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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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Dots

...If the dots don't connect, gather more dots until they do...

TGIF

TGIF

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Thursday, October 27, 2011

Will Financials lead or bust this rally?

An important sector that I'll be following over the next days/weeks is the Financials sector, XLF...as I write this, it is leading today's pullback as can be seen on the 1-day 1-minute percentage comparison chart below of the Dow 30, S&P 500, Nasdaq 100, Russell 2000 & XLF.

Future price action in this sector may provide valuable insight into overall market reactions to the Eurozone debt deal.


The Daily chart below finds price in between Fibonacci fan line support and trendline resistance...a break and hold on either side could establish market direction in the days/weeks to come.