financial sector update
Right now the market is taking a short break we believe. As you can see the telltale sign is the financial sector! As of today the financial sector has broken its nice rising support line, and MACD is still on a SELL SIGNAL. This is not a good sign for the short term, so further selling could be witnessed in the coming days / week.
We have been trading in a range for weeks and finally after a day of heavy selling in earning weeks, the financial did cop a beating and broke down out of this range (to the downside). There is a possibility we go down to 21, as today was a significant day for the bears.
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| financial sector update |
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