Financials Confirm Swing Move Down In Markets Coming…

The Financial Select Sector Spider (XLF) confirms that a swing move lower on the S&P 500 is likely coming.

XLF has two possible courses it could take as I wrote about last week here. The buy Parabolic SAR signal was not confirmed and XLF took the downward path back to test its 200 day moving average.

Financial stocks (XLF) are downtrending which signals pullback in markets coming.

In otherwords, Financials are not confirming an upward move on the S&P 500. In fact, its signaling just the opposite. The move lower on the S&P 500 may not occur the week of September 11 – 15th but it should come the week of September 18 – 22.

Are you a trader and do you have any thoughts or questions about market direction over the next couple of weeks? Leave your comments or questions below.

Author: Lance Jepsen

For ethical purposes, I try not to hold any position in any stock I profile on unless specifically stated in the article. Owner of Seasoned entrepreneur, investor, and writer. I love God, family, country, stock trading, economics, and helping people learn how to trade.

Sofi AI Market Sentiment Gauge

Sofi AI Market Sentiment Gauge

Market is overbought.