I have posted this already several times,with the 200d MA as “blocking” resistance.
This time the financials (XLF) have broken the 200d MA, which became now a key support level.
Now, what’s next ?
- It was a fake move and we’ll go below the 200d MA again
- Compared to the S&P 500, XLF stopped following SPY. This could be a nice period for XLF, for catching up on SPY. Depends on the current worries on global economies and the effect on SPY.