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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...
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Friday, December 02, 2011

Financials' "Power Surge" Today

The Banking and Financials sectors are leading today's advance, so far, today as shown on the graph of my ETFs below.


Of interest, in the short term, will be my 4-Hour chart of XLF below...current price is in between near-term confluence of resistance and support.


The 1-day 1-minute percentage comparison chart below shows how the XLF surged ahead of the Dow 30 Index, while the credit card stocks, V and MA dropped. Today is the third gap up on the open since November 28th. How long can the buying frenzy last...or is it just short-covering after pre-market rallies? Are the circuit breakers about to trip?




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