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